Student Work – Mark Madoff

By Mohit Kumar

Mark Madoff died on Saturday December 11, 2010 at age 46, on the two-year anniversary of his father’s arrest. He was found dead in his New York City apartment. The NYC medical examiner ruled the cause of death as a suicide by apparent hanging. He and his wife had been exchanging emails where Mark told his wife, who was in Florida at the time, that he was going to kill himself and he told her to come pick up their two-year old son. His wife called and asked her father to go over to the apartment and upon arriving at the residence, he had found Mark hanging from the ceiling by a leather dog leash while his son was asleep in a nearby room. He did not leave behind any letters or suicide notes. Mark Madoff was the son of infamous stock broker Bernie Madoff, who had operated the largest ponzi scheme in history.

His surviving family members are his wife, son, his brother, mother and his father who is currently serving a life sentence in prison. Since Mark Madoff had not amended his will, there is no trust for his two-year old son.

Furthermore, Mark Madoff had not updated his will so in the will he had trusted everything to his father, Bernie Madoff and named him co-executor of his estate. However since his father is currently in prison, he is unable to serve as executor and Mark’s brother, Andrew Madoff, will now serve as the executor of his estate. Part of Mark’s estate included a 3 1/3 acre waterfront Nantucket Island South Shore property, with a 5,154 square foot main house, a 1200 square foot guest house and a 2 car garage. The property is worth about $7,000,000. As of February 9, 2011, that property is on the market for an asking price of $7,500,000. Mark was a defendant in a trial in which the victims of his father’s ponzi scheme were seeking to recover lost assets. Even though Mark is now dead, the lawsuit will continue against his estate.

Mark Madoff is going to be cremated and his family has said that there’s not going to be any funeral service or burial.

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