Why Mark Madoff committed suicide

Bernie Madoff's son, Mark, commits suicide

Excerpt:

It was Mark and younger brother Andrew who first heard their dad’s astonishing confession — and dropped a dime to the feds on one of the biggest investment fraud schemes in history.

"No one wants to hear the truth," the despondent 46-year-old scion wrote his lawyer in one of three wrenching emails dispatched around 4 a.m., a law enforcement source told The Post.

"Take care of my family."

In two messages sent to wife Stephanie he said, "I love you" — and then alerted her to "send someone to take care of Nick," the source said.

A freaked out Stephanie — at Disney World in Orlando with her mom and 4-year-old daughter, Audrey, at the time of the suicide — then dispatched her father, high-powered lawyer Martin London, to the apartment in the swank building that’s home to rocker Jon Bon Jovi.

London made the grisly discovery and called 911, said police sources.

No note was found with Madoff’s body; he was clad in khaki pants, blue pullover shirt and white socks, sources said.

The eldest son of Bernie, Mark was "upset" over the two-year anniversary media coverage of his father’s massive fraud and subsequent arrest on Dec. 11, 2008, the source said, noting a front-page story of the scheme and its aftermath in today’s Wall Street Journal

Comment:

Mark Madoff Dogged by Picard Suit

Excerpt:

"Mark Madoff lived a high-end lifestyle with homes in Manhattan, Nantucket, and Greenwich, Conn. Investment firm funds paid for all aspects of his lavish lifestyle from the purchases of his high-end homes to the mattress and box spring he slept on, the television he watched in his home gym, and the outdoor shower in his home," the lawsuit said.

According to Mr. Picard, Mark received "astronomical compensation"— $29.3 million from 2001 to 2008, including bonuses of $4.8 million in 2006 and more than $9 million in 2007.

He said Mark deposited a total of $745,482 into seven customer accounts he held and his family held, but redeemed $18.1 million.

"It was—or at the very least, should have been—obvious to Mark that the massive gains reflected in his customer account statements did not reflect actual securities transactions or market conditions," the suit said.

Comment: Self-homicide is always wrong - "Thou shalt not kill" (which includes killing of self!). This obviously is a tragedy and I do not wish to minimize this fact: the loss of a father, a husband, a son, a brother. And I do not know exactly why Mark Madoff committed suicide. But this much is clear, no investor has an expectation of his investment being multiplied by 24! He must have been in on his father's Ponzi scheme!