The eldest son of financier Bernard Madoff, was found hanging from a ceiling pipe in his apartment Saturday, two years after his father was arrested in a multi-billion dollar fraud that caused "unrelenting pressure" for his entire family, the Associated Press reported.
Mark Madoff, 46, hanged himself by a dog leash in his SoHo loft apartment, law enforcement officials said. His 2-year-old son was sleeping in a nearby bedroom, the Huffington Post reported.
Martin Flumenbaum, Mark Madoff's lawyer, said he took his own life Saturday, the AP reported. A medical examiner will determine the cause of death.
Mark Madoff was found after his wife Stephanie received a concerning email Saturday morning, saying that someone should check on their son, said law enforcement officials. She sent her father to the home where he found the body, the Huffington Post reported. The 2-year-old was unharmed.
"This is a terrible and unnecessary tragedy,'' Flumenbaum said in a written statement. "Mark was an innocent victim of his father's monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo."
Bernard Madoff, 72, cheated thousands of investors out of their life savings, a scheme that lasted for decades, the AP reported. With a sum of around $20 billion swindled, it became the biggest investment fraud in U.S. history.
Bernard Madoff was arrested on Dec. 11, 2008 and was sentenced to a 150 years in a North Carolina prison.
The entire Madoff family was shamed by the scandal and some sued, for most of Bernard Madoff's sons were involved with the company.
In February, Mark Madoff's wife requested to change her last name and the last names of their two children, saying her family had gotten threats, the AP reported.