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Madoff son found dead in Manhattan

One of convicted fraudster Bernard Madoff’s sons was found dead in the New York district of Manhattan this morning in an apparent suicide.
Mark Madoff, 46 years of age, was found hanged in a Manhattan apartment on the day that marked the second anniversary of father Bernard’s arrest. Madoff and his sibling Andrew are both being investigated but have not yet been charged.

Last year, Bernard Madoff admitted to defrauding thousands of investors on a $65bn Ponzi scheme that pays out by using new investors’ money as opposed to actual profits. Bernard Madoff, aged 72, is currently serving a huge 150-year prison term that will see him die behind bars. An official speaking to the press told how a Madoff family member had notified local police of the incident that occurred in Manhattan’s trendy Soho district around 0730 local time.
Mark and brother Andrew Madoff worked on trading desks for the family firm, as part of the business that isn’t believed to have any direct involvment in the Ponzi scheme and so far, they and other members of the family have denied being aware any illegal activity taking place.

Earlier this year, Mark Madoff’s wife had asked a court for permission to change her last name, citing that several threats to the family had left her with no other option than to do so. On Friday, a trustee set on recovering funds for victims of Madoff’s fraud filed lawsuits that seek almost $20bn in damages. Thus far, Irving Picard has charged over 60 people, including a string of major banks.B

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