RADAR EXCLUSIVE: Bernie Madoff's Suicide Son Left $2M Fortune For Wife In Foundation
May 28 2018, Updated 10:17 a.m. ET
Mark Madoff left almost $2 million parked in a charity listed in his wife's name, Breaking Celebrity News has exclusively learned. What's more the charity gave out no money to any cause in 2009 but still received the tax breaks of a nonprofit organization.
Mark, the son of incarcerated Ponzi scheme architect Bernie Madoff, committed suicide on Saturday, on the two-year anniversary of his father's arrest.
DOCUMENTS: Mark and Stephanie Madoff Foundation IRS Filing
Mark worked for his father's firm that bilked $65 billion from investors. The son ran a nonprofit foundation until his death. He was distraught over his father's actions and always insisted her knew nothing about the scheme his dad ran, a scam that ruined individual investors and charities.
In a federal tax filing to the IRS on June 10, 2010 -- and obtained by Breaking Celebrity News -- Bernie Madoff's oldest son declared the Mark and Stephanie Madoff Foundation was worth a whopping $1,881,199.
A closer look at that foundation reveals:
* It gave no grants, contributions or gifts in 2009, according to the 990 form signed by Mark.
* It employed no people.
* It paid just $710 in taxes for the financial period of 2009.
* Mark, who listed himself as President, named 158 Mercer Street where he was found dead, as the foundation's business address.
* It had only three board members - Mark, Stephanie, and Andrew Madoff - each of whom worked a minimum of 12 hours per week.
* Wife Stephanie is listed a