Bernie Madoff's Son Commits Suicide

The 46 year-old son of convicted Ponzi schemer Bernie Madoff was found hanging from a dog leash in his Manhattan apartment today.

Mark Madoff, in desperate early morning e-mails to his wife, said he could no longer live with the curse put on the family by his disgraced dad, sources told the Daily News. "At one point he said something like, 'You'll have a better life if I'm not around ... I love you ... Our son needs someone here,'" one source told the News. Madoff, 46, was discovered hanging from a pipe inside the living room of his luxurious Mercer St. home in Soho around 7:30 a.m. by his father-in-law, who immediately called 911, the sources indicated.

Mark Madoff was being sued by many of his father's clients, who claim that he benefited from the scheme to the tune of tens of millions of dollars. However he faced no criminal charges.

Banks And KPMG Named In Madoff Suit

JPMorgan Chase, the Bank of New York, and the accounting firm of KPMG have been named as co-defendants in a lawsuit again super-crook Bernie Madoff.

"KPMG never blew the whistle on fraudulent conduct" at Madoff's British firm, Madoff Securities International Ltd, which the accounting firm audited. KPMG declined comment as did JPMorgan Chase. A representative for Massachusetts Mutual Life Insurance, parent company of Openheimer and Tremont funds, could not immediately be reached for comment. The complaint, filed in New York State Supreme Court, also alleges "abuse of drugs and women as a pattern of conduct in the Madoff firm" - Bernard L. Madoff Investment Securities LLC in New York. "JPMorgan Chase, the complaint alleges, helped Madoff launder money between the United States and London -- almost $6 billion of investors' money," said Cotchett, whose law firm Cotchett, Pitre and McCarthy is based in Burlingame, California.

(Tipped by JMG reader Stash)

Feds Sieze Madoffs' UES Penthouse

U.S. Marshalls just took possession of Bernie Madoff's UES penthouse, forcing his wife to look for lodging elsewhere.

U.S. Marshal Joseph Guccione said the marshals arrived at the property at noon with a court order permitting them to take custody of the apartment and cause anyone there to move out. Guccione said Madoff's wife Ruth had been advised in advance of the marshals' plans and was leaving the residence, surrendering all personal property. "She will be leaving,'' he said. "Restitution for the victims is the government's top priority.'' Typically, the marshals service changes all locks and secures a property when it seizes a location. Last week, Ruth Madoff agreed to give up all of her possessions in return for a promise that federal prosecutors would not go after $2.5 million she can keep. The money, though, is not protected from civil legal actions that might be pursued by a court-appointed trustee liquidating Madoff's assets or by investor lawsuits.

It's quite a media circus over on E.64th, I think people are hoping to see Ruth sitting on the curb. What will the poor dear do, with only $2.5M to her name?

Bernie Madoff Sentenced To 150 Years

Billionaire scammer Bernie Madoff was just sentenced to 150 years in prison.

Judge Denny Chin said the sentence was a symbolic one for a crime that showed "extraordinary evil" and "took a staggering human tool." Madoff , addressing the court in a dark suit for about six minutes, said that when he started the scam, he thought he'd be able to "work my way out." He said he lives in a tormented stated and expressed regret of leaving a "legacy of shame" to his family and grandchildren." Madoff said his wife Ruth will make a statement later today. He maintained that he acted alone, saying, "How do you excuse lying to brother and sons? How do you excuse lying and deceiving a wife who stood by you for 50 years and still stands by you? There is no excuse for that and I don't ask for forgiveness." He then faced his victims in court and said, "I'm sorry."

Prosecutors continue to look into charges against Madoff's wife and family.

Advice For Bernie Madoff

Somebody outside uberscammer Bernie Madoff's zillion dollar UES penthouse wants him to do the right thing. Madoff remains under house arrest despite being the single greatest con artist in American (world?) history.

(Via Jen Chung @ Gothamist.)