Andrew Madoff aka Andy Madoff died at the age of 48 on September 3, 2014, and his cause of death was cancer. He was initially diagnosed with cancer in 2003. Later, his cancer went into remission before reappearing in 2011.
Madoff: The Monster of Wall Street, a Netflix original documentary series that lives up to its title in every way imaginable, can only be described as befuddling as well as gripping. After all, it includes first-hand accounts from those close to the situation as well as dramatic recreations to shed light on how Bernie Madoff pulled off the largest Ponzi scheme in history.
Following his arrest, it became clear that his fraud was one of the largest Ponzi schemes in history, with nearly $65 billion in paper losses, $17 billion in cash losses, and tens of thousands of victims ranging from Swiss private bankers to labor union pension funds to notable charities and universities. Later, he pleaded guilty in March 2009 and was sentenced to 150 years in a North Carolina federal prison.
Both Madoff sons denied knowing about the fraud and were never charged criminally in connection with it. While his older son, Mark Madoff, committed suicide on the two-year anniversary of the arrest, many people wonder about the death of his elder son, Andy/Andrew Madoff. Follow the article to know more about Andrew's death!
Previously, we touched on Jeffry Picower.
Andy/Andrew Madoff’s Cause of Death: The Youngest Son of Bernard Madoff Died While Undergoing Cancer Treatment, on September 3, 2014!
Andrew Madoff aka Andy Madoff, the younger son of convicted swindler Bernard L. Madoff, died at the age of 48 in a Manhattan hospital on September 3, 2014, while receiving cancer treatment. Later his family lawyer Martin Flumenbaum stated that the cause was mantle-cell lymphoma, which Mr. Madoff had been treated for since early 2013. Meanwhile, his older brother Mark Madoff committed suicide in 2010.
Andrew Madoff born on April 8, 1966, was an American financier best known for his role in exposing his father Bernie Madoff's financial crimes. Bernie Madoff's Ponzi scheme was widely regarded as the most successful and large scheme in history. He and his brother, Mark, both worked for their father's firm, but in a division that was not involved in their father's deceptive practices.
As the 2008 financial crisis caused markets to crash, their father was unable to keep the deception going; they later described how he confessed to them and their mother on December 10, 2008. Their father asked them to give him 24 hours before going to the police so he could organize his affairs, but the brothers refused; their father was arrested the next day, and the brothers never spoke with him again.
However, the family was burdened by the suspicion and harsh publicity that followed the arrest. On the second anniversary of his arrest, Mark Madoff hanged himself in his Manhattan apartment in December 2010, sending a final note to Mr. Flumenbaum claiming that "no one wants to believe the truth."
Andrew, too, acknowledged the harm the case had done to him, blaming it for the return of cancer in December 2012 that he had fought off in 2003. "One way to look at it is that the scandal and everything that happened killed my brother very quickly, And it's slowly killing me," he said in an interview with People magazine.
But, unlike his brother, Andrew refused to cower in the face of scrutiny. He assisted his fiancée, Catherine Hooper, in establishing a consulting firm to help others deal with life-altering events. He collaborated with Ms. Hooper and his mother, Ruth Madoff, to promote an official family biography, which was released in the fall of 2011. When his cancer returned, he wrote about his experiences with stem-cell transplant treatments in a private blog accessible only to family and friends.
The final blog post, dated Aug. 9, noted that he had been hospitalized again but also stated that he and Ms. Hooper had taken advantage of the summer's beautiful weather by going on several hiking trips. "It's a godsend to get away from the city crowds and breathe fresh clean air," he wrote. "As I drink it in, I can feel my body healing." Later, he died on September 3, 2014, while undergoing additional cancer treatment.
Prior to his death, Madoff and Hooper established a grief counseling firm. Reuters reported on his death that despite a British court ruling that the pair were not co-conspirators, Andrew Madoff and his brother's estate were still being sued. On July 15, 2014, Irving Picard, trustee for their father's victims, sued Andrew and his brother's estate.
Madoff retained a $16 million estate. His will left a sizable portion of his estate to his estranged wife. He had established a trust that would have provided $50,000 per month to Hooper and their daughter.
Hooper, on the other hand, has told reporters that the trust fund is embroiled in legal wranglings, that she has received no money from it, and that she is living as if she will never receive those funds. She stated that she and her daughter shared a set of bunk beds in their 500 sq ft (46 m2) apartment.