The Madoffs have gone down in history as a family that will be talked about in American business circles and indeed society at large for a long time to come, they masterminded one of the largest Ponzi schemes ever known in modern history. Bernard Madoff was the mastermind of it all but unfortunately and as is common with financial crimes like this, the repercussions of his action took a toll on his family, directly leading to the death of one of his sons Mark Madoff. plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Mark is the eldest son of Bernie Madoff and Ruth Madoff, he was born on March 11, 1964 and has as a younger brother the also late Andrew Madoff (1966–2014). Their father was a former stockbroker, financier and investment consultant, but is now serving time in Butner Federal Prison, Durham, North Carolina, as a fraudster. There are some reports that he died in 2017 while serving his 150-year prison sentence, but many other reports claim that he is still alive. Bernard began operating a penny stock brokerage business in the 1960s that evolved into Bernard L. Madoff Investment Securities. At the time of its operation, the company had over 4,800 customers. Mark Madoff and his brother Andrew worked in the company as stockbrokers. There are no records of Mark's childhood such as the high school he attended, the sports he played, and all those things that typically paint a picture of a person's early life. However, we know for a fact that he studied and graduated from the University of Michigan and began practicing as a licensed stockbroker in his father's company in 1987. Working at Bernard L. Madoff Investment Securities, where the Money was hardly scarce, Mark Madoff lived the life that was just a dream for many Americans. Reports said that in the three months before the company's debacle, he had used up to $77,000 to charter private jets as he flew from bell to bell across the country. When he wasn't out and about, Mark spent time with his $6.5 million and 3.3 acres at his retreat home on Nantucket or his farm in Tony Greenwich, Connecticut, whenever he was on vacation. Indeed, Mark, just like every member of his family, had everything he needed at his beck and call, even if the source of their wealth at that time was questionable. As time went on, Bernard, who was also a former president of the NASDAQ, knew that this would not be the case. It will be a long time before the fraud in his business is discovered, in December 2008 he revealed to his sons Andrew and Mark Madoff that the asset management arm of Bernard L. Madoff Investment Securities LLC was a huge Ponzi scheme (not his exact words). Shocked by their father's revelation, the Madoff brothers reported it to the authorities who quickly took action, marking the end of the giant Bernard L. Madoff Investment Securities. Mark Madoff was married to Stephanie Madoff Mack from 2004 to 2010 when she died. Both were parents of 4 children, 2 from his previous relationship and 2 more together. From his previous relationship, he had Daniel and Audrey Madoff while with Stephanie they had Kate and Nicholas Madoff who were 4 and 2 years old respectively when he got tired of the many troubles in his life. Given the circumstances leading up to Mark's death and because of the deep financial problems his family still finds itself in, his wife and indeed all the other wives and ex-wives of the Madoffs have not been let off the hook. They are all involved in a $255. 3 lawsuit.