THE O'JAYS - FOR THE LOVE OF MONEY
The King James Bible Says....
For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. 1 Timothy 6:10
YOU WONT READ THIS IN THE GREENWICH TIME
A GREENWICH RESIDENT MADE MILLIONS ON MADOFF PONZIE SCHEME AND IT WAS NOT WALTER "FEEDER FUND" NOEL
OY VEY, MARK MADOFF IS A JEWISH MOTHER'S WORST NIGHTMARE
MARK MADOFF TELLS DADDY, "TAKE YOUR FANCY NANCY WATCH AND SHOVE IT WHERE THE SUN DON'T SHINE !!!!"
Madoff Son Mark Had $8.3 Million Net Worth in 1999, Divorce Records Show
Bloomberg Business News
GREENWICH - Mark Madoff, the 44-year-old son of alleged Ponzi-scheme operator Bernard Madoff, accumulated a net worth of $8.3 million in his father’s employ by the time he filed for divorce in 1999, public records show.
Madoff joined his father’s brokerage in 1986 and rose to become director of listed trading, according to Bloomberg data. Currently he has 15 properties, including a $6 million New York apartment and a $2.3 million home in Greenwich, Connecticut, according to public records. He divorced his wife, Suzanne, in Stamford, Connecticut, in 2000, when he was earning about $770,000 a year and had just bought a second home.
Mark Madoff and his brother, Andrew, 42, turned in their father to the U.S. government after he told them he was operating a $50 billion Ponzi scheme. They also reported their father for allegedly violating a court order by giving away watches and jewelry worth $1 million.
Mark Madoff is now married to Stephanie Mikesell. A call to their Manhattan apartment wasn’t immediately returned today. Together, they have $2 million in a foundation, according to a public filing in 2007. A Greenwich home Mark Madoff bought for $1.6 million in 1994 was sold for $5.8 million in 2001, according to deed records.
Madoff’s financial affidavit in the divorce case casts light on his status at the business where, according to Bloomberg data, at least seven family members have worked.
His list of assets included $5 million in deferred compensation and a $5 million stake in his father’s London operation, Madoff Securities International Ltd. That stake was offset by a $5 million loan from his father. Dividends from the U.K. unit served to pay interest on the loan.
Comparable data for Mark Madoff’s finances today isn’t publicly available.
Mark and Andrew Madoff haven’t been charged with any wrongdoing. Their lawyer, Martin Flumenbaum, didn’t immediately return a call seeking comment.
The case is U.S. v. Madoff, 08-mag-2735, U.S. District Court, Southern District of New York (Manhattan).
To contact the reporters on this story: Linda Sandler in New York at lsandler@bloomberg.net; Jane Mills in Hartford, Connecticutt .
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1 comment:
This article states incorrectly that Mark Madoff's former wife is named Suzanne. His former wife's name is Susan and she still resides in Greenwich with their two children.
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