Skip to main content
Tags: APFN | US | Madoff Sons

Estates of Bernie Madoff's 2 Sons to Keep Nearly $4 Million

Estates of Bernie Madoff's 2 Sons to Keep Nearly $4 Million

Tuesday, 27 June 2017 07:44 PM EDT

NEW YORK (AP) — A bankruptcy court filing shows the estates of Wall Street swindler Bernard Madoff's (MAY'-dawfz) two sons will get to keep nearly $4 million once about $18 million in assets is taken away as part of a legal settlement.

The settlement terms were contained in papers filed by a court-appointed trustee Monday in U.S. Bankruptcy Court in New York. The deal leaves Mark Madoff's estate with $1.75 million and Andrew Madoff's estate with $2 million.

The brothers were business and regulatory managers at Bernard Madoff's private investment securities business.

Their dad admitted in 2009 that his multi-decade fraud cost thousands of investors roughly $20 billion they had trusted with him. The 79-year-old is serving a 150-year prison sentence.

Mark Madoff hanged himself in 2010. Andrew Madoff died of cancer in 2014.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Newsfront
NEW YORK (AP) - A bankruptcy court filing shows the estates of Wall Street swindler Bernard Madoff's (MAY'-dawfz) two sons will get to keep nearly $4 million once about $18 million in assets is taken away as part of a legal settlement.The settlement terms were contained in...
APFN, US, Madoff Sons
133
2017-44-27
Tuesday, 27 June 2017 07:44 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the Newsmax App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved