Bernard Madoff's son Andrew died on Wednesday morning of lymphoma at age 48, a family lawyer said. He was the only surviving son of the convicted fraudster. His older brother, Mark, committed suicide in 2010. Bernard Madoff, who operated a Ponzi scheme that defrauded hundreds of investors, was arrested in December 2008, pleaded guilty three months later, and is now serving a 150-year prison term. Andrew's attorney, Martin Flumenbaum, said he "died peacefully" at Sloan Kettering Cancer Center in New York and was surrounded by family. Funeral arrangements will be private. Both Madoff sons denied knowing about the fraud and were never criminally charged. Despite turning in their father, Andrew recently became the subject of a lawsuit by a court-appointed trustee working to recover funds for investors. The lawsuit by Irving Picard alleged that the sons knew far more than they ever admitted.
IN-DEPTH
- Madoff Sons Obstructed SEC Audit of Ponzi Scheme, Trustee Suit Says
- More Victims Than Expected Claim Total of $40B From Madoff Fund
- Five Ex-Employees Guilty of Conspiracy in Madoff Fraud Trial
--- CNBC.com
