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 Bernard Lawrence Madoff ( ; April 29, 1938April 14, 2021) was an American fraudster and financier who was the admitted mastermind of the largest Ponzi scheme in history, worth about $64.8 billion. He was at one time chairman of the NASDA ...

, whose

Ponzi scheme A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are comin ...

has been widely described as the most successful in history.

Biography

Andrew earned a

bachelor's degree A bachelor's degree (from Middle Latin ''baccalaureus'') or baccalaureate (from Modern Latin ''baccalaureatus'') is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to six ...

in economics from the

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universitie ...

in 1988. He and his brother,

Mark Mark may refer to: Currency * Bosnia and Herzegovina convertible mark, the currency of Bosnia and Herzegovina * East German mark, the currency of the German Democratic Republic * Estonian mark, the currency of Estonia between 1918 and 1927 * Fi ...

, 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 Jerry Oppenheimer is an American author who has written several unauthorized biographies of public figures including Hillary and Bill Clinton, Anna Wintour, Rock Hudson, Martha Stewart, Barbara Walters, Ethel Kennedy, Jerry Seinfeld and the Hilto ...

'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. Andrew was diagnosed with cancer in 2003. His cancer went into remission, returning in 2011. He attributed his relapse to the stress of the fallout over his father's crime. Another likely contributing factor is the fact that his brother had died by suicide in 2010, two years to the day since Bernie Madoff's arrest. Andrew Madoff died while undergoing further cancer treatment, on September 3, 2014. Before his death, Madoff and Hooper set up an agency that specialized in grief counseling. On his death,

Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was estab ...

described ongoing attempts to sue Andrew Madoff and his brother's estate, in spite of a British court's ruling that the pair were not co-conspirators.

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, 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 apartment, where she and her daughter shared a set of bunkbeds.

References

{{DEFAULTSORT:Madoff, Andrew 1966 births 2014 deaths American financiers 21st-century American businesspeople Businesspeople from New York City American Jews Wharton School of the University of Pennsylvania alumni University of Pennsylvania alumni Deaths from cancer in New York (state) Madoff family Deaths from lymphoma