Bernie Madoff's last surviving second son Andrew Madoff died in 2014, at 48, because of a rare form of cancer at Memorial Sloan Kettering Cancer Center, surrounded by his loving family. He was an American financier best known for his role in exposing his father's financial crimes.
Madoff: The Monster of Wall Street, a new Netflix true crime docuseries, tells the story of infamous financier Bernie Madoff's glorious rise and disastrous fall. He was the mastermind behind one of the largest Ponzi schemes in history, swindling $65 billion from thousands of clients before being caught and arrested in 2008.
Former clients testified that they lost their life savings as a result of Madoff's schemes, and he was quickly put on trial. He was eventually sentenced to 150 years in federal prison in 2009. However, Madoff served only a portion of his sentence and died in prison in 2021 at 82.
His two sons are also no longer alive. Mark Madoff, Bernie's eldest son, committed suicide in 2010, on the two-year anniversary of his father's arrest. Similarly, his second son, Andrew Madoff, also died in 2014 at 48. His two sons died in the years following his arrest, and as a result, fans of Madoff: The Monster of Wall Street wants to know more about his sons' deaths. Follow this article to learn everything about Andrew Madoff's death.
Don't forget to check out Wall Street investors Carl Shapiro's and Mark Madoff's net worth.
Andrew Madoff was born on April 8, 1966, in the Long Island town of Roslyn to Bernie and Ruth Madoff. In 1988, he graduated from the University of Pennsylvania's Wharton School of Business. He was running the Nasdaq desk at his father's securities firm by the mid-1990s. Bernard L. Madoff's last surviving second son died of a rare form of cancer, in 2014, at 48, at Memorial Sloan Kettering Cancer Center surrounded by his loving family.
Martin Flumenbaum, his lawyer, said in a statement that the cause of Andrew's death was mantle cell lymphoma. He was diagnosed with lymphoma in 2003 and relapsed a decade later. He attributed his relapse to the stress of living with his father's con. In October 2012, the disease resurfaced. Andy was the chairman of the board of directors of the Lymphoma Research Foundation until his father's scheme was revealed. His elder brother, Mark Madoff also committed suicide in 2010, two years after his father was arrested.
Andrew was an American financier best known for his role in exposing his father, Bernie Madoff's, and his uncle Peter Madoff's financial crimes. His father's Ponzi scheme was widely regarded as the most successful in history. Similarly, he didn't take a vacation for the first four years he worked. He craved independence from his father at times. He invested in companies such as Urban Angler, a Manhattan fly shop; Abel Automatics, a California-based manufacturer of fishing tools; and Madoff Energy, an energy exploration venture. Unlike other members of the family, Andrew did not seek to change his name.
The late American financer met Catherine Hooper, a former Fish & Fly magazine cover girl, at the Urban Angler shop, where she was also an investor. He co-owned Black Umbrella, a provider of emergency preparedness services founded by Hooper. They were allegedly engaged before he died. Andrew was divorced from his first wife, Deborah Anne West, on the same day her father-in-law was arrested. Anne and Emily were their two daughters.
Andy and his brother spent nearly his entire career at Bernard L. Madoff Investment Securities, a family-run behemoth based in Manhattan's Lipstick building. He rose to top executive positions, but vehemently denied any involvement in the scheme, which their father ran alongside the legitimate trading business with an unresolved degree of assistance. Following the revelations of his father's crime, Andrew publicly repudiated his father.
Despite his best efforts, he became entangled in the consequences of Bernard's actions. Andy was not charged criminally, but he was the subject of civil lawsuits as the court-appointed trustee in charge of the Madoff firm's liquidation and victim compensation. He claimed that he had not spoken to his mother in two years because she appeared to support Bernard. He also stated that they reestablished contact following Mark's suicide.
According to the lawsuit, the brothers were aware of their father's fraud and deleted or altered records during an investigation by the Securities and Exchange Commission. Reuters reported on his death that despite a British court ruling that the pair were not co-conspirators, Andrew Madoff and his brother's estate were still being sued. On July 15, 2014, Irving Picard, trustee for their father's victims, sued Andrew and his brother's estate. Meanwhile, the allegations, according to a lawyer for Andrew and his late brother's estate, are unfounded.