Bernie Madoff’s oldest son, Mark Madoff was found in his Manhatten apartment on Saturday hanging from a dog leash. This event peculiarly happened on the second anniversary of his father’s arrest in the multi billion dollar Wall Street Con Artists Ponzi scheme that sent shockwaves through the financial sector, and many of his investors were literally destroyed financially. This may be a little off topic in terms of green but hear me out, as we also deal with ethics here, which goes into the recent Wall Street con artists.
Mark Madoff, who was 46 years old was found hanging from a ceiling pipe in his living room in the SoHo loft apartment he is staying in, with his two year old son was sleeping in a adjacent bedroom, according to law enforcement officials. In response to this tragedy, his lawyer, Martin Flumenbaum released this written statement, “This is a terrible and unnecessary tragedy. Mark was an innocent victim of his Father’s monstrous crime who succumbed to two yhears of unrelenting pressure from false accusations and innuendo.” Ruth Madoff, Marks mother and Bernies wife, was heartbroken, according to Peter Charvkin, her lawyer.
Mark Madoff was found after his wife, Stephanie became concerned when he sent her an e-mail late Friday night or early Saturday morning telling her that someone should check in on their two year old son. Marks father in law found him, after following up on his request to Stephanie, and on her behalf. Stephanie was at Disney World in Florida with her four year old daughter. The two year old whom was asleep wa, along with their dog.
AS most of us will recall, Bernie Madoff, who is 72 now, was arrested on December 11, 2008 after he confessed his scheme to his family. He conned a rather long list of investors, many of them friends, out of billions of dollars. He confessed that he was running his Ponzi scheme for over twenty years, bilking thousands of friends, friends of friends, charities, celebrities, and institutional investors out of nearly 20 billion dollars, which ranks as the largest ever investment fraud in U.S. history.
The ripoff scandal shed a dim light on all members of Bernie’s family, as his brother Peter, was an important player in the firm, and Mark and Andy Madoff both worked on trading desks at their father’s firm, but not involved in the Wall Street Ponzi scheme.
Last year, the trustee appointed by the court who was trying to unravel the financial affairs of Bernie sued several relatives, including Peter, Mark and Andrew, accusing them of not detecting the fraud while living the high life from the ill gotten gains. In the lawsuit, Mark was accused of using $66 million dollars he had improperly recieved to purchase luxury homes in New York City, Nantucket and Connecticut. Spokespeople for the two sons continually deny any knowledge of their dad’s, Bernie Madoff, criminal activities. The attorney for Bernie Madoff has not responded to calls yet on Saturday. There is speculation that he may get a furlough to attend the services. The bureau does allow furloughs for prisoners to attend memorial services.
This brings me to my next thoughts, which get back to ethics and green. If crooks like Bernie Madoff and some other Wall Street con artists like Goldman Sachs, CountryWide, AIG, to name a few hadn’t pulled the shenanegens that they did, the world would be a much better place. We wouldn’t have this more or less permanent recession, and we wouldn’t have governments cutting every last thing they can. If this whole mess wouldn’t of happened, we would have been well on our way to going green at a much higher level. As for the economy, with it in the pot right now, it hurts the green movement at the worst time, right when we need it most. If it were not for the financial distress of our nation and local governments, going green would be much more palatable for those whom either don’t care, don’t believe, or even those who are in total denial. This whole financial mess instigated by greedy wall street con artists is doing more damage than anyone could ever imagine. Not only has it literally put the cabash on our governments role in reducing greeenhouse gas emissions, it has also put a big dent in investments into green technololgies.
Now, whether or not Mark Madoff was aware of his father’s, Bernie Madoff activities, no one will ever know. But I do know this, that the time will come for them. Sooner or later, they will get what is coming to them, AIG, and everyone involved in potentially destroying any firm committments to the green movement by a government that is reluctant at best, and has it’s hands literally tied for the time being. Now, it is all but impossible. Thanks, guys, enjoy that blood money. Maybe you can use it to start a fire when the next ice age comes.