Bernie Madoff’s son Andrew died with a $16 million estate he’s sharing with his wife and his girlfriend, court papers show.
Papers filed in Manhattan Surrogate’s Court show Andrew Madoff owned an estimated $11 million in “personal property” and $4.5 million in real estate when he died of blood cancer last week.
In his will, which was made public Thursday, the master scammer’s scion left one third of his property to his wife, Deborah West — and $50,000 a month to the woman he’s described as his fiancée, Catherine Hooper.
“I request my executor to pay to Catherine Hooper, so long as she is living, the sum of $50,000 on the first day of each month, commencing 30 days after the admission of this will to probate, for her support until the administration of my estate is completed,” says the will, which was dated July 8.
After the estate is completed, she’ll be paid from a trust which will have an undisclosed sum of money in it.
Also getting trusts are his two children, who were left all of their father’s personal property.
The will reveals that despite his relationship with Hooper, he was still married to West, who filed for divorce from him on the same day Bernard Madoff was arrested for running a multi-billion dollar scam that was the largest Ponzi scheme in history.
The divorce case was withdrawn in February, records show.
Madoff, 48, died of mantle cell lymphoma last week after a long battle with the disease.
He’d beaten back cancer before, but told People Magazine last year that the stress and shame he dealt with after his father’s arrest had caused the lymphoma to resurface.
“One way to think of this is the scandal and everything that happened killed my brother very quickly,” he said, referring to his brother Mark, who committed suicide in 2010, “and it’s killing me slowly.”
He told the magazine he’d made amends with his mother, Ruth, who both he and Mark had stopped talking to because of her support of their father, but that he would never settle things with his dad.
“Even on my deathbed I will never forgive him for what he did,” Andrew said. “He’s already dead to me.”
Both brothers had worked in a legitimate arm of Madoff’s business, and they were the ones who turned their father in after he came clean about his decades long con.
In July, the trustee for Madoff’s victims filed a $153 million suit against Andrew and Mark’s estate, charging they “knew, saw, and were simply too intelligent to plausibly feign ignorance about the fraud that was occurring.”
Madoff, 76, is serving a 150 year sentence for securities fraud.
The executor of Andrew’s estate, his longtime lawyer Martin Flumenbaum, did not return a call for comment.
Attribution:
Bernie Madoff’s son, Andrew, left one-third of his $16 million estate to his estranged wife and $50,000-a-month to fiancée
Andrew Madoff, 48, also left behind all his personal property to his children, according to the will filed Thursday in Manhattan Surrogate’s Court.
Dareh Gregorian
September 11, 2014
New York Daily News
http://www.nydailynews.com/new-york/bernie-madoff-son-andrew-leaves-money-estrange-wife-fiancee-article-1.1936636
Papers filed in Manhattan Surrogate’s Court show Andrew Madoff owned an estimated $11 million in “personal property” and $4.5 million in real estate when he died of blood cancer last week.
In his will, which was made public Thursday, the master scammer’s scion left one third of his property to his wife, Deborah West — and $50,000 a month to the woman he’s described as his fiancée, Catherine Hooper.
“I request my executor to pay to Catherine Hooper, so long as she is living, the sum of $50,000 on the first day of each month, commencing 30 days after the admission of this will to probate, for her support until the administration of my estate is completed,” says the will, which was dated July 8.
After the estate is completed, she’ll be paid from a trust which will have an undisclosed sum of money in it.
Also getting trusts are his two children, who were left all of their father’s personal property.
The will reveals that despite his relationship with Hooper, he was still married to West, who filed for divorce from him on the same day Bernard Madoff was arrested for running a multi-billion dollar scam that was the largest Ponzi scheme in history.
The divorce case was withdrawn in February, records show.
Madoff, 48, died of mantle cell lymphoma last week after a long battle with the disease.
He’d beaten back cancer before, but told People Magazine last year that the stress and shame he dealt with after his father’s arrest had caused the lymphoma to resurface.
“One way to think of this is the scandal and everything that happened killed my brother very quickly,” he said, referring to his brother Mark, who committed suicide in 2010, “and it’s killing me slowly.”
He told the magazine he’d made amends with his mother, Ruth, who both he and Mark had stopped talking to because of her support of their father, but that he would never settle things with his dad.
“Even on my deathbed I will never forgive him for what he did,” Andrew said. “He’s already dead to me.”
Both brothers had worked in a legitimate arm of Madoff’s business, and they were the ones who turned their father in after he came clean about his decades long con.
In July, the trustee for Madoff’s victims filed a $153 million suit against Andrew and Mark’s estate, charging they “knew, saw, and were simply too intelligent to plausibly feign ignorance about the fraud that was occurring.”
Madoff, 76, is serving a 150 year sentence for securities fraud.
The executor of Andrew’s estate, his longtime lawyer Martin Flumenbaum, did not return a call for comment.
Attribution:
Bernie Madoff’s son, Andrew, left one-third of his $16 million estate to his estranged wife and $50,000-a-month to fiancée
Andrew Madoff, 48, also left behind all his personal property to his children, according to the will filed Thursday in Manhattan Surrogate’s Court.
Dareh Gregorian
September 11, 2014
New York Daily News
http://www.nydailynews.com/new-york/bernie-madoff-son-andrew-leaves-money-estrange-wife-fiancee-article-1.1936636
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