ies and innuendo suggesting he was somehow complicit in his father Bernard's multi-billion-dollar swindle drove Mark Madoff to commit suicide, his lawyer has said.
Mark Madoff had reportedly become increasingly despondent
The 46-year-old was found hanged in his Manhattan apartment on Saturday, exactly two years to the day since his father was arrested.
The body was reportedly discovered by his wife's stepfather in the living room, but had not left a suicide note.
He had "succumbed to two years of unrelenting pressure from false accusations and innuendo", his lawyer, Martin Flumenbaum, said in a statement.
"This is a terrible and unnecessary tragedy," Mr Flumenbaum added.
"Mark was an innocent victim of his father's monstrous crime."
Bernard Madoff, 72, is serving a 150-year term in prison in North Carolina after swindling a long list of investors out of billions of dollars.
He admitted he ran his Ponzi scheme for at least two decades, cheating thousands of individuals, charities, celebrities and institutional investors.
Along with his younger brother Andrew, Mark Madoff was under investigation but had not faced any criminal charges arising from the scam that led to their father's jailing.
They said they were unaware of
his crimes.
But they have remained under investigation and been named in several civil lawsuits accusing them of profiting from the scheme.
And reports said Mark had become increasingly despondent in the months before his death.
Madoff's body is taken out of a New York apartment building
It is thought his family's blackened name had made it impossible for him to find a job.
"He'd been trying to move on with his life but he wasn't successful," the New York Daily News quoted a source as saying.
"The pressure was mounting," the person added. "He's been upset for two years."
One employee, who had seen him recently, reportedly said: "He was stressed out. You could see it in his face.
"It was devastating for him. Ever since it started, it turned his world upside down."
Another person apparently said the intense scrutiny approaching the second anniversary of the case "became too much for him".
Reports also said a lawsuit that threatened to leave him bankrupt and the possibility of criminal charges stemming from his father's scam meant he was struggling to rebuild his life.
His two young children were also named in a lawsuit which was attempting to recover funds lost to his father's Ponzi scheme.
Bernard Madoff is serving 150 years in jail
The black cloud over the Madoff name had also led Mark's wife, Stephanie, to change her surname, as well as that of their children, to Morgan this year.
His wife had been on holiday in Florida with their daughter, four, when Mark killed himself.
Their two-year-old son Nicholas was asleep in a separate bedroom in the couple's New York apartment. He was unharmed.
Hours before his death, Mark had sent emails to his lawyer, one which said:
"No one wants to hear the truth".
Another one asked the lawyer to "take care of my family".
He also emailed his wife, saying he loved her and that someone should check on Nicholas.
Stephanie, who was concerned for her husband, then sent her stepfather to the couple's apartment, where he discovered the body.
Meanwhile, Bernard Madoff may be barred from attending the funeral, as inmates are normally only allowed to go when they have two years or less left on their sentences.
Comments (19)
Ali D says...
This madness continue!!! What now.. the Big Red Rooster as manager!! This isnt about Blackburn Rovers, 'tis about spreading this 'chicken brand' into new markets! It is shameful! I am a Watford supporter, but I feel for all you Blackburn supporters. Your amazing history comes down to this. It is a sad day for you all. For goodness sake, who leads this non-footballing 'clan'. I send my sincere best wishes to all Rovers fans. Luv ya!Greg Tinglin (West Ham United fan) says...
I pray west ham follow suit and get rid of Grant before its too late again Big Sam for the Hammers !!!James Smith (Sunderland fan) says...
Another disgraceful sacking. I fully expect both Blackburn & Newcastle to finish in lower positions this season than the position that they were in the day they wrongly sacked their managers but the boards of both clubs will get what they deserve when this happens.Chris Chapman (Newcastle United fan) says...
I feel for Big Sam, yet again he has been a victim of "new owners who think they know about football". He was hard done by at Toon by Ashley and yet again he has been relieved in a similar manner. God help Blackburn fans if they have to endure an owner who has similar approaches as Fat Mike Ashley. Good luck Sam, you done promote the prettiest of football but you build solid sides, and I am sure you are made for the West Ham job when Avram is shown the door very soon.Jamie Ganley (Blackburn Rovers fan) says...
Sad hearing this news as thought we were going to be going somewhere especially with all our new youth hes developed... bt wts going to happen with people like phil jones and diouf without big sam...Russ S (Leeds United fan) says...
I am baffled as to Sam's sacking. He is pure genius. He would have worked wonder's with some financial backing. Poor old Sam. I feel sorry for Blackburn now. Think they may struggle! LEEDS ARE GOING UP!J Mackay (Liverpool fan) says...
Amazing, as much as I dislike the man, he did a cracking job for you lot, despite it not being the prettiest footy going. It just shows you what happens when people with money and no football sense buy British clubs. Mind you, saying that, count yourself lucky, at least you dont have Roy Hodgson as your manager.Rob Fryett (Manchester United fan) says...
Excuse me? I literally don't believe this. What could Allardyce possibly have done to deserve the sack? He's been doing a really good job at Blackburn, and you could tell that, given a few years and a bit of stability (which he would've provided, no question), he would've done as good a job there as he did at Bolton, and could possibly have ended up turning them back into a side that were challenging for a place in Europe each season. These Venkys guys must surely know nothing about football whatsoever.Tom O (Arsenal fan) says...
My only question is why on earth is this sacking being reported as a surprise? "Allardyce managed to guide Blackburn to their current 13th place in the premiership this season?" I dont see much "GUIDING" there, seeing there are only 18 teams in the premiership, so 13th is hardly a job well done, especially seeing Blackburn are only 5 points above relegation and just 3 points ahead of the 15th & 16th teams, so one more loss could drag them into the bottom 3. Also forgetting Blackburn arent the same as the others at the bottom: did they not win the premiership in 1995? (just 15 years ago). What better time to make a change of managers than now? If they leave it till Allardyce drags them into the botton 3, they'll endup like Newcastle did with Allradyce (going down!) with managerial changes coming way too late in the day. If they can get a half-decent manager in now to build on their current 13th place spot, perhaps they'll be in the premiership next season, a goal much greater than sticking with a manager who really shouldnt be employed right now given his recent poor records and self-proclaimed greatness (perhaps he can go an manage Real Madrid now he's got time on his hands....). . (Blackburn Rovers fan) says...
Sam, on behalf of Rovers fans all over the country, so sorry you have had to leave this way. you've done a tremendous job over the last two years. getting us out of trouble when you started and giving us a great run in the cup last year (till nasty villa cheated!!). can't believe you have been treated this way by the new owners. am now definately worried about their plans for this wonderful club. wish you all the best, thank you Sam AllardyceTerry Childs (Wolverhampton Wanderers fan) says...
I feel sad for Sam, when he was young and at Bolton, is sides always played nice football to watch, but now like Wolves, he as to change the game of play, just to stay in the Premiership, . Also i hate it when people buy a football club, and do not know anythink about the game.Michael Baker (Chelsea fan) says...
first ray wilkins then chris houghton now sam allardyce the game gone mad to many people at the top have let the power go to there headsDan H (Blackburn Rovers fan) says...
wish you well in the future sam :) thankyou for saving us from relegation, goodluck with future jobs :)Paul Hammonds (Blackburn Rovers fan) says...
you did not give the man a chance give him some money in january let him get some new players then deside you chicken pluggersDan Fincheley (Blackburn Rovers fan) says...
dissapointed at this news sam did good job to keep us up after fiasco of paul ince reign. sam style got results although at times not pretty to watch. If new owners only got 5 mill to spend this decision redicoulous as nobody be able to do as good a job as sam and club should not have ben sold to them, if hey investing more then bring back dallish with shearer assistant be a gr8 decision, time will tell hope glory dayscoming back but need a lot of cash owners should clarify position before fans revolt and turn against them.Gary Hart (Blackburn Rovers fan) says...
What a joke! I cannot actually believe he's been sacked. I wouldn't swap a Sam Allardyce for a Hughton or a Joll any day of the week. Bring back Big Sam!Lee Locker (Blackburn Rovers fan) says...
IDIOTS!!!!!!. unless they have jose mourinho lined up they aint going to get any one better than big sam. I don't think many rovers fans seem to see what he did for us, with no brass any one else would have sent us down... good luck samDaniel Thomas (Blackburn Rovers fan) says...
Cheers Sam for what you've done. Not the best type of football at all, but you saved us from relegation and for a club our size to finish in the top 10 and only be 1 point off of 8th place at this moment in time is a great achievement, no one can doubt the consistency, as well as your skill in developing our young talent. Lets hope our chicken farmers know what they are doing and don't employ any name which will be popular in India.....