Tuesday, December 14, 2010

Guilt's Stain

Mark Madoff was remembered fondly by former classmates Monday...

Doreen Hebron said Madoff was 'very popular,' dressed well and had a good attitude.

Bernard Madoff's sons, according to their family's legal representatives, were whistleblowers and not co-conspirators in the Ponzi scheme that defrauded investors of 65 billion dollars, and for which, in large part, their father is serving a hefty prison sentence of 150 years.

The story goes that immediately upon being informed by dear old Dad that he had lost the life savings of thousands of investors, Mark and Andrew Madoff contacted the FBI, and Bernard Madoff was arrested the next day, December 11, 2008, on a single count of securities fraud.

That was an amazingly swift reaction.

(I'm just sayin'.)

As the 2-year anniversary approached, there were apparently a good many legal issues that needed attention -- most having to do with the filing deadline for lawsuits seeking recovery of lost assets -- and the attention of the press and general public was again at a peak.

Mark Madoff hung himself this past Saturday, December 11, using a dog leash. He was married and had four children. His father's lawyer states that Bernard Madoff won't seek to attend the funeral out of "consideration" for his son's immediate family.

Despite the fact that investigators still cannot fathom how Madoff pulled off his securities fraud or how he laundered such large amounts of money for so long without the assistance of others, particularly of his brother or sons, all of whom worked at Madoff Investment Securities, authorities now deny that any new criminal charges were imminent.

In his article about the suicide, AP journalist Larry Neumeister interviewed another of Mark Madoff's childhood friends, Lev Seltzer:

[R]eached by telephone in Israel, where he now lives, [Seltzer] recalled working with Madoff on a sixth-grade assignment at a Long Island school to create a fake television commercial. He said the ad mocked a long-running Life cereal commercial that featured a boy named Mikey who hated everything else but liked the cereal.

"Instead of Mikey, we had Marky," Seltzer said.

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