“Truth and Consequences” comes out 11 days after Stephanie Madoff Mack’s “The End of Normal: A Wife’s Anguish, A Widow’s New Life.” Mack was the wife of Mark Madoff, who killed himself on the second anniversary of his father’s arrest.
“I hated Bernie thoroughly and deeply from the instant Mark told me what he had done,” Mack wrote.
Mark Madoff hanged himself by a dog leash last year on the anniversary of his father’s arrest. Like his parents, he had swallowed a batch of sleeping pills in a failed suicide attempt 14 months earlier, according to his widow’s book.
Bernie Madoff was arrested on Dec. 11, 2008, the morning after his sons notified authorities through an attorney that he had confessed to them that his investment business was a multibillion-dollar Ponzi scheme and he had cheated thousands of investors.
Madoff ran his scheme for at least two decades, using his investment advisory service to cheat individuals, charities, institutional investors and celebrities, including former CNN talk show host Larry King.
An investigation found Madoff never made any investments, instead using the money from new investors to pay returns to existing clients _ and to finance a lavish lifestyle for his family. Losses have been estimated at around $20 billion, making it the biggest investment fraud in U.S. history.
King told the syndicated TV news show “Extra” he and his wife invested $700,000 with Madoff but were lucky enough to get it back: $200,000 from the Madoff estate and $500,000 from the government for taxes they paid on stock they never had.