In the days leading to his death on Saturday, Mark Madoff was feeling increasingly despondent about his worsening legal situation, say people familiar with the matter, particularly a suit filed by the trustee recovering assets for victims of his father’s Ponzi scheme.
But Mark Madoff’s suicide won’t put an end to the legal challenges.
“The litigation will take its course and the death of Mark Madoff will not impact that fact,” the court-appointed trustee’s lawyer, David Sheehan, said in an email Sunday.
A medical examiner confirmed on Sunday that Mark Madoff, 46, had killed himself in his Manhattan apartment by hanging himself with a dog leash. The suicide came two years to the day after his father, Bernard Madoff, was arrested following his confession about his massive fraud to Mark and his younger brother Andrew, who had spent their entire professional lives working for their father.
While no criminal charges have been filed against either Mark Madoff or his brother, Andrew, the ongoing probe by federal prosecutors hung over the two, who also came under escalating scrutiny from the bankruptcy trustee, Irving Picard.
Full story: Suicide won’t end Madoff lawsuits