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Bernard Madoff Partly Responsible For Son's Death

December 13. 2010

Bernard Madoff, Ruth Madoff and Mark Madoff 

Incarcerated ponzi schemer, Bernard Madoff, is partly responsible for the death of his son, Mark Madoff, who committed suicide last week. He will not be allowed to attend his funeral, due to prison rules. Mark Madoff was broken under a two year torrent of press and public abuse, over his dad's ponzi scheme that unraveled and was the financial ruination of many, leading to the death of an investor, who committed suicide. 

Mark Madoff was used to being treated like a king, with people fawning over them, due to his dad's alleged financial acumen and brilliance, making him the talk of the investment world, but it was all a sham. Mark Madoff could not come to grips with the ensuing fall that made them one of the most hated families in America.

The entire Madoff family denied culpability in their patriarch's schemes, but the Judiciary Report is of the belief they knew what was going on and did very little to restore what they stole from defrauded investors. Case in point, the Madoffs continue to live lavishly and so do the women that married into their families, clinging to investors' money they have siphoned off into private accounts. 

Mark Madoff's wife changed her married name and that of their children to "Morgan." Andrew Madoff's wife divorced him the day the scandal broke.  She left him, taking $14,000,000 in stolen investor money and continues to live lavishly off the family's sins, while investors suffer. 

The Judiciary Report is not a money loving website, but the Madoff case goes beyond wealth. It represents charities helping the community being forced to shutter. It represents kids college tuitions being wiped out. It represents businesses employing hard working people collapsing in bankruptcy, adding to the unemployment crisis.

It represents tired and infirmed elderly investors in their 60s, 70s, 80s and 90s, who should be retired after many years of hard work, having to rejoin the workforce, taking whatever employment they can find, in places such as supermarkets, for paychecks a little above minimum wage, after losing all their money to Madoff. It is completely unjust.  

Mark Madoff was said to be in the dark regarding his dad's ponzi scheme, working on the trading desk of the company, but a report released this year revealed, no trades were made. Therefore, how could he not have known something was amiss and the funds his family had been living lavishly on, was apart of an illegal, fraudulent scheme. 

The entire Madoff family, heirs and in-laws, must be made to return every single penny of the stolen money and face financial fines. This was not a family born into money. All the funds they are living on stem directly from a criminal ponzi scheme that destroyed many lives.

Many charities, companies and families lost everything. Restitution needs to be made, as much as possible, in light of the fact the SEC and FBI failed miserably, allowing the criminal scheme to run on for over a decade after they were first apprized of its criminal existence. Bribes were issued and taken, people looked the other way and it allowed the ponzi scheme to grow to unprecedented heights, usurping greater funds.

Madoff taught his family greed was the way to prosperity and in the end, it claimed the life of his son, Mark, at the age of 46. Mark Madoff, with $66,000,000 in ponzi scheme money in the bank, committed suicide, under the weight of guilt and shame, using a dog's leash to hang himself in his plush $6,000,000 apartment. 

Money is not everything in life and no amount of cash can restore a life lost. Suicide is not the answer and neither is greed. Both have killed many. It is better to be poor and honest, than rich and wicked, as there is no peace or rest for the latter when avarice takes its toll. 

"The love of money is the root of all evil" as the Bible states. This case proves it. Bernard Madoff made a deal with the devil for money and destroyed many in the process, only for it to end very badly for him as well.

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