|Born||April 8, 1966|
Long Island, New York, U.S.
|Died||September 3, 2014 (aged 48)|
|Known for||Response to his father's fraud|
Deborah Anne West
(m. 1992; sep. 2007)
Andrew Madoff (April 8, 1966 – September 3, 2014) was an American financier, best known for his role in exposing the financial crimes of his father, Bernie Madoff, whose Ponzi scheme has been widely described as the most successful in history.
Andrew earned a bachelor's degree in economics from the University of Pennsylvania in 1988. He and his brother, Mark, worked for their father's firm but in a division removed from their father's deceptive practices. As the financial crisis of 2008 made markets plunge, their father was unable to maintain the deception; they later described how he confessed to them and their mother, on December 10, 2008. Their father asked them to give him 24 hours before going to the police so he could get his affairs in order, but the brothers chose not to; their father was arrested the next day, and the brothers never spoke with him again.
Andrew Madoff married Deborah Anne West in January 1992. According to Jerry Oppenheimer's Madoff with the Money, the pair separated in 2007; Madoff later became engaged to Catherine Hooper, claiming that they met after his separation, although that has been disputed. Madoff and Hooper announced their plans to marry and lived together for years, but his divorce had not been completed prior to his death.
Madoff was diagnosed with cancer in 2003. His cancer went into remission, returning in 2011. Madoff attributed his relapse to the stress of the fallout over his father's crime. His brother had died by suicide in 2010. Madoff died while undergoing treatment, on September 3, 2014.
Madoff and Hooper set up an agency that specialized in grief counseling.
On his death, Reuters described ongoing attempts to sue Madoff and his brother's estate, in spite of a British court's ruling that the pair were not co-conspirators. Irving Picard, trustee for their father's victims, sued Andrew, and sued his brother's estate, on July 15, 2014.
Madoff retained an estate of $16 million. His will left his estranged wife a substantial fraction of his estate. He had set up a trust which would have left $50,000 a month to Hooper and their daughter. Hooper, however, has told reporters that the trust fund was tied up in legal disputes, that she had received no money from it, and that she was living as if she might never receive those funds. She said she had downsized to a 500 sq ft (46 m2) apartment, where she and her daughter shared a set of bunkbeds.
The two brothers attracted worldwide attention in December 2008 after they alerted federal agents that their father, a respected Wall Street statesman, had confessed to them that his private investment management business was a vast Ponzi scheme. Based on that report, the senior Mr. Madoff was arrested the next morning, Dec. 11, 2008.
Both he and his brother, Mark Madoff, worked with Bernard Madoff's firm, but were not directly involved with their father's multibillion-dollar Ponzi scheme. Bernard Madoff was arrested in December 2008 after his sons turned him in upon learning of his fraud. The senior Madoff was sentenced to 150 years in prison.
Andrew Madoff and his brother, Mark Madoff, worked on the legitimate trading side of their father’s Manhattan firm, two floors removed from the private investment business where Bernard Madoff carried out his $65 billion Ponzi scheme over several decades.
Mrs. Madoff, 24 years old, is a book-promotions consultant in New York. She graduated from Duke University.
Passage said she isn't planning on returning to her former profession as a stripper at Scores, but instead spends her time hanging out with Andrew Madoff's fiancee, Catherine Hopper, who lives in her building, she told Page Six.
Mark's ex-wife, Susan Elkin, was sued for $2.4 million, his widow, Stephanie Mack, for $27.5 million, and Andrew's ex-wife, Deborah Madoff, for $27.7 million.
Andrew Madoff, in April 2013, disclosed the recurrence of his mantle cell lymphoma, a form of cancer for which he had been treated in 2003. He underwent a stem-cell transplant in May 2013, following chemotherapy and radiation.
Defense lawyers denied the claims and pointed to a ruling from the United Kingdom's High Court of Justice last October against Picard that concluded the brothers did not suspect fraud.
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.
The claims come from Madoff trustee Irving Picard in a $150 million lawsuit against the brothers.
Presented content of the Wikipedia article was extracted in 2021-06-13 based on https://en.wikipedia.org/?curid=20752077