of Business Week
The last surviving son of Bernard Madoff, Andrew, has passed away of mantle cell lymphoma
at age 48.
"Andrew Madoff has lost his courageous battle against mantle cell lymphoma,'' said Martin Flumenbaum, Madoff's attorney. "He died peacefully... surrounded by his loving family" at Sloan Kettering Cancer Center.
Together with his brother Mark, he effectively ended his father's elaborate Ponzi scheme. Bernard "Bernie" Madoff managed to steal billions of dollars from hundreds of investors, including the New York Mets
, The Elie Wiesel Foundation
, and Larry King
, in what has been called the largest financial fraud in U.S. history. Bernard was arrested in December 2008, and pleaded guilty to various charges of fraud. He is currently serving a term of 150 years of prison.
Andrew's brother, Mark, committed suicide in 2010 on the second anniversary of his father's arrest. The brothers denied knowing anything about the scheme, but Andrew came under scrutiny by a court-appointed trustee trying to recover the lost money.
Andrew blamed the stress caused by his father's actions for the resurfacing of his cancer, and that he would "never forgive" him.
Benard was not present at Mark's funeral, and it is unclear if he will be at Andrew's. A spokesman for The Federal Bureau of Prisoners, Chris Burke, said in a statement that "the institution's chaplain typically notifies an inmate of a family death or emergency, if the family requests we do so." He also said that requests to attend funerals are taken on a case by case basis.
Popwrapped extends its condolences to the Madoff family.
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