Thaindian News

NEW YORK CITY (BNO NEWS) — Mark Madoff, the son of disgraced financier Bernard Madoff, was found dead in his New York City home on Saturday morning, police said. It is also the two-year anniversary of Bernard’s arrest.

Police said Mark Madoff was found dead at around 7.30 a.m. EST at his home in SoHo, a neighborhood in Manhattan. A family member who found him called police.

Police officials released few details about the death, but confirmed it appeared to be a suicide and said Mark Madoff was found hanging inside his luxury apartment. A two-year-old child was with him.

The sudden death of Mark, who was never charged with any crimes relating to his father’s massive Ponzi scheme, comes on the second anniversary of Bernard’s arrest.

Bernard Madoff, 71, pleaded guilty last March to running Wall Street’s biggest ever investment fraud of as much as $65 billion. He is currently serving a 150-year prison sentence.

Last month, two former employees of Bernard Madoff were arrested for their alleged participation in Madoff’s fraud scheme. Both have been charged in a Superseding Indictment with conspiracy, securities fraud, falsifying books and records of a broker-dealer, falsifying books and records of an investment adviser, and committing tax evasion.

“As everyone knows, Bernard Madoff perpetrated the largest financial fraud in history, but others criminally assisted his epic crime,” said Preet Bharara, U.S. Attorney for the Southern District of New York, last month. “Year after year, Annette Bongiorno and Joann Crupi protected and perpetuated the Madoff mirage, while putting very real money in their own pockets.”

And on Tuesday, New York prosecutors announced that Carl J. Shapiro - who invested hundreds of millions of dollars with Barnard Madoff - had agreed, along with related people and entities, to forfeit $625 million to the United States, all of which will be made available to the victims of Madoff.