Mark Madoff was despondent, stressed, desperate to find a job before committing suicide, say friends

Alison Gendar, Jennifer H. Cunningham, Lukas I. Alpert New York Daily News 12/12/2010 18:00

Mark Madoff Madoff hanged himself early Saturday in his apartment on the two-year anniversary of the final collapse of his father's scheme and the family's reputation.

Ponzi scion Mark Madoff had grown increasingly despondent in the months before his suicide as the taint attached to his name made it impossible for him to find a job.

"He'd been trying to move on with his life but he wasn't successful," a source close to Madoff said yesterday.

The 46-year-old investment banker had cast about among his old contacts on Wall Street, but could barely get anyone to even call him back, the source said.

That, plus a suit that threatened to leave him bankrupt and the possibility of criminal charges stemming from his father Bernie's epic Ponzi scam left the younger Madoff feeling like the walls were caving in.

"The pressure was mounting," the source said. "He's been upset for two years."

Madoff hanged himself early Saturday in his SoHo apartment on the two-year anniversary of the final collapse of his father's scheme and the family's reputation.

Those who had seen the younger Madoff recently said he looked like he had the weight of the world on his shoulders.

Source

Add your comment Send Print Report