Madoff Won't Attend Son's Funeral

Dec 14 2010 | 1:20pm ET

Arch-fraudster Bernard Madoff will not seek permission to attend his son's funeral.

Mark Madoff committed suicide at his New York apartment on Saturday—the two-year anniversary of his father's arrest. His two-year-old son was sleeping in an adjacent bedroom.

Madoff is serving a 150-year prison sentence for running a $65 billion Ponzi scheme. Federal prisoners may apply to attend family funerals; permission is granted on a case-by-case basis.

"Mr. Madoff will not be attending the funeral out of consideration for his daughter-in-law's and grandchildren's privacy," his lawyer, Ira Sorkin, said. "He will be conducting a private service on his own where he is presently incarcerated," in North Carolina.

It is unclear when Mark Madoff will be buried. As of yesterday, his body had not been claimed from the medical examiner, which conducted an autopsy and ruled the death a suicide.

The Ponzi scheme's eldest son had reportedly been increasingly distraught as the anniversary approached. Mark Madoff was never charged criminally in the scam—the investigation was ongoing at the time of his death—but he had been sued by the court-appointed trustee seeking to recover assets for his father's victims. Madoff and his brother, Andrew, had consistently denied they knew anything about their father's scam; the two are believed to have turned him in when he confessed it to them.


In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note