Bernie Madoff was apprehended after his sons turned him in to the FBI in December 2008. His eldest son, Mark, hung himself in 2010, on the two-year anniversary of his father’s arrest. And later Madoff’s second son, Andrew, died of mantle-cell lymphoma, a rare form of cancer, in 2014, at the age of 48.
Madoff: The Monster of Wall Street, a new Netflix docuseries, tells the story of infamous financier Bernie Madoff‘s glorious rise and disastrous fall, and the story’s complexities leave everyone with more questions than answers. Before he was caught and arrested in 2008, Madoff was the mastermind behind one of the largest Ponzi schemes in history, involving the swindling of $65 billion from thousands of clients.
Former clients testified that they lost their life savings as a result of Madoff’s schemes, and he was quickly put on trial. According to The New York Times, he was eventually sentenced to 150 years in federal prison in 2009. However, Madoff served only a portion of his sentence.
Many true crime documentaries have been created since his arrest and subsequent imprisonment to document his rise and fall, including Netflix’s latest, Madoff: The Monster of Wall Street. What many people do not realize is that Bernie Madoff was apprehended after his sons turned him in to the FBI in December 2008. Who were his sons? What caused their untimely deaths? Here’s what you should know.
Previously, we touched on Jeffry Picower and Carl Shapiro.
Bernie Madoff’s Sons’ Deaths: While His Older Son, Mark Madoff, Committed Suicide in 2010, His Younger Son, Andrew Madoff, Passed Away From Cancer in 2014!
Bernie Madoff and Ruth Madoff had two sons, Mark Madoff, the older son who committed suicide in 2010, and Andrew Madoff who died of cancer in 2014. Both sons used to work for their father’s legitimate company, which was two floors above the investment firm. Bernie confessed his deception to Mark, Andrew, and Ruth in 2008, when the financial markets took a turn during the Great Recession.
According to History.com, the Madoff brothers immediately turned their father in to authorities, and he was arrested the following day. Bernie was sentenced to 150 years in prison on June 29, 2009, by a Manhattan judge who described his scheme as extraordinary evil. Holocaust survivor Elie Wiesel and celebrities such as Kevin Bacon were among Bernie Madoff’s victims.
Later, Mark Madoff committed suicide in December 2010 on the two-year anniversary of his father’s arrest. Stephanie Madoff Mack, his widow, wrote The End of Normal: A Wife’s Anguish, A Widow’s New Life, a book detailing life as a member of the Madoff family, and told ABC News that her husband was plagued by guilt over his father’s treachery.
All of the public scrutinies drove Mark into a deep depression, according to Stephanie was constantly on the internet, reading every article, every blog, and all of the nasty comments that come with all of those articles. He changed physically. He was no longer doing the things he enjoyed. He grew a beard in an attempt to disguise himself, and he was physically hunched over.
She also claimed that Mark attempted suicide a year before his death, leaving behind a note blaming his father for everything. The note stated, “Bernie, you now understand how your life of deception has destroyed the lives of your sons. F—- you.”
Bernie’s younger son Andrew was diagnosed with mantle-cell lymphoma, a rare form of cancer, in 2003, according to NPR. His lymphoma returned in 2011, and he blamed it on the stress of his father’s crimes. Although unconfirmed, his older brother’s death the previous year could have been a contributing factor to his return.
Andrew died on September 3, 2014, while undergoing cancer treatment. Martin Flumenbaum, his lawyer, confirmed his death in a statement to Reuters, saying, “Andrew Madoff succumbed to mantle cell lymphoma after a valiant battle. On September 3, 2014, he died peacefully at Memorial Sloan Kettering Cancer Center, surrounded by his loving family.”
Bernie Madoff’s Brother Peter Madoff and Niece Shana Swanson!
Following the collapse of Bernard L. Madoff Investment Securities, Bernie’s brother Peter Madoff was sentenced to ten years in prison for falsifying documents and lying to regulators. He was sentenced to home confinement after serving nine years at the Federal Correctional Institution in Miami. According to the Daily Mail, he was released in August 2020 and now lives in West Palm Beach, Florida, with his wife.
Meanwhile, Peter’s daughter Shana Swanson also worked as a compliance officer for the firm alongside her father. She was never charged with any crimes and was never suspected of being involved in Bernie’s schemes. She married Eric Swanson, an attorney at the US Securities and Exchange Commission, in 2007.
Shana is said to own a yoga studio called Yoga By Shana Swanson in Westport, Connecticut. According to its website, it is “a personalized system of yoga that combines rhythmic breathing from Ashtanga Yoga with alignment principles from Iyengar yoga.”
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Shibakshya Rai is a multifaceted media professional with a burning passion for entertainment news. Serving as the founder and entertainment reporter at Selectiveyes Group Pvt. Ltd., Shibakshya ensures his audience stays informed about the latest celebrity buzz and entertainment world events.
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