Stephanie Mack
Stephanie Madoff Mack (nee Mikesell) is an American sociologist.[1][2]
She attended Nightingale-Bamford, a small, expensive private school, from Kindergarten through high school.[2] She earned a college degree at Franklin & Marshall, in Pennsylvania.
After graduation, in 1996, she took a job as an editorial assistant at George magazine.[2] The magazine went out of business in 2001, and she started working as an assistant to Narciso Rodriguez, a fashion designer.
A friend set her up on a blind date with the recently divorced Mark Madoff, and the pair married in 2003.[1][2] Her boss, Rodriguez, designed her wedding gown.
She and Madoff had two children, born in 2006 and 2009.
Her father-in-law, Bernie Madoff, had been a highly respected financier, until the collapse of the real estate bubble, in 2008.[1] He had been a swindler, and had been running one of the longest running and most successful ponzi schemes, until the bubble's collapse. On December 10, 2008 Madoff informed his wife, Ruth Madoff, Mark Madoff and his younger son Andrew Madoff, that he had been a swindler.
Madoff was arrested, tried, and given a long sentence. Her husband and his brother, uncle and a variety of cousins had all worked for her father-in-laws firm, without knowing of the swindle. Nevertheless, the rest of the family was subjected to unpleasant scrutiny and suspicion. Her husband Mark committed suicide on December 10, 2010, the second anniversary of her father-in-law's confession.
The New York Times first reported on Mack's book deal with Blue Rider Press - a branch of Penguin, in May 2011.[3] They reported the size of her advance was not made public. Her publisher described her book as the "first genuine insider account" of the Madoff scandal, and predicted readers would find it “heartbreaking, compelling and ultimately courageous.”
Mack published her memoir about her life so far, “The End of Normal” in mid October 2011.[4] Mack appeared on ABC's 20/20 on October 18, 2011, the day before her book was published.[5][6]
In 2012 Mack and Deborah Madoff, the estranged wife of her brother-in-law Andrew Madoff, were sued by Irving Picard, to recover funds to pay back her father-in-law's swindled clients.[2][7][8][9] They reached settlements with the trustee in 2017. The bankruptcy judge ruled that Susan Elkins, her husband's first wife, had acquired her fortune early enough that she got to keep them.[10]
The efforts of Irving Picard, the bankruptcy trustee responsible for trying to repay Madoff's investors some fraction of their investment, was described as being very aggressive.[11] Initially, Mack, her husband's first wife, and her former sister-in-law, were allowed to keep millions of dollars of assets. But Wealth Management magazine reported in Picard launched a new complaint, in May 2016. They quoted former federal prosecutor Richard Scheff, who had concluded Picard intended to "deprive every Madoff -- or Madoff relation -- of any possible fruit of the fraud."
In June of 2017 those responsible for Madoff's son's estates reached a settlement with the bankruptcy trustees, to hand over most of the value of the remaining value of the estates - a total of $23 million.[12][13] Court documents show Mark Madoff's estate retained $1.75 million. Those court documents did not reveal what share of that estate would go to Mack.
In October 2017 both the New York Times and Town and Country magazine reported on Mack new career as a professional stylist.[14][15] They reported that she specialized in working with clients who had undergone life-changing events that caused them to want to re-invent themselves, and their wardrobes, and that her own re-invention served as an inspiration to these clients.
The New York Times reported she had been working as a stylist since 2012, and that she had also earned a graduate degree at the Bank Street College of Education with the intent of working with "pediatric patients and their families".[14] However, she found that raising her own children made working with other people's children too demanding.
References
- ↑ 1.0 1.1 1.2 Stephanie Madoff Mack (2012-09-19). "As ‘Daddy,’ Mark Madoff Lives On". The New York Times. Archived from the original on 2019-10-05. https://web.archive.org/web/20191005111447/https://parenting.blogs.nytimes.com/2012/09/19/as-daddy-mark-madoff-lives-on/. Retrieved 2020-10-17. "Eventually my children will learn about the complex details of their father’s family, and that he took his own life. They’ll be angry, and they’ll grieve in different ways. But, for now, they’re young, and I find that in our grief, we end up celebrating our lives together. We have new memories complete with laughter and dancing. And somehow, we have found a peaceful place for Mark in them as well."
- ↑ 2.0 2.1 2.2 2.3 2.4 Sara Lieberman (March 2013). "Madoff's Ultimate Victim". Page Six Magazine: p. 36-42. Archived from the original on 2016-02-21. https://web.archive.org/web/20160221223420/http://www.saralieberman.com/wp-content/uploads/2013/03/P6M-Madoffs-Ultimate-Victim-Stephanie-Madoff-March-2011.pdf. Retrieved 2020-10-17. "It was clear that Mark had the right pedigree. He’d grown up in Roslyn, Long Island—rich, gregarious and considered the “golden boy.” At the University of Michigan, he pledged Sigma Alpha Mu, the go-to fraternity forrich “golden boys” from the EastCoast, and after he graduated hewent straighttowork for Bernard L. Madoff Investment Securities."
- ↑ Julie Bosman (2011-05-18). "Widow of Madoff Son to Write Memoir". New York Times. Archived from the original on 2023-05-19. https://web.archive.org/web/20230519051455/https://archive.nytimes.com/artsbeat.blogs.nytimes.com/2011/05/18/widow-of-madoff-son-to-write-memoir/. Retrieved 2023-05-19. "David Rosenthal, the publisher of Blue Rider Press, called it the 'first genuine inside account' from a Madoff family member, a memoir that begins with the unraveling of Mr. Madoff’s Ponzi scheme."
- ↑ Andrew Goldman (2011-11-20). "Stephanie Madoff Mack Keeps Busy". The New York Times Magazine: p. 12. Archived from the original on 2018-03-01. https://web.archive.org/web/20180301153554/http://www.nytimes.com/2011/11/20/magazine/stephanie-madoff-mack-keeps-busy.html. Retrieved 2020-10-17. "In your book, “The End of Normal,” you write about a girlfriend setting you up on a blind date with your future husband, Mark Madoff, whom she described as “one of the wealthiest men in New York.” Was that appealing?"
- ↑ Chris Cuomo, Joseph Rhee, Shana Druckerman (2011-10-18). "Exclusive: Madoff Widow Blames Bernie for Son's Suicide Attempts, Death". ABC News. Archived from the original on 2023-01-25. https://web.archive.org/web/20230125173831/https://abcnews.go.com/Business/madoff-widow-blames-bernie-sons-suicide-attempts-death/story?id=14766429. Retrieved 2023-05-19. "In a searing and emotional interview to be broadcast Friday on '20/20,' Mack details how a privileged life in one of the richest families in America turned into a living nightmare after Madoff's Ponzi scheme was uncovered."
- ↑ Clyde Haberman (2011-10-31). "The Madoffs Come Trick-or-Treating". New York Times. Archived from the original on 2023-05-08. https://web.archive.org/web/20230508205554/https://archive.nytimes.com/cityroom.blogs.nytimes.com/2011/10/31/the-madoffs-come-trick-or-treating/. Retrieved 2023-05-19. "Ten days earlier, Ms. Mack performed a similar rite on ABC’s '20/20.'"
- ↑ Tiffany Hsu (2012-05-07). "Madoff’s family, daughters-in-law sued for $255.3 million". Los Angeles Times. Archived from the original on 2020-10-17. https://web.archive.org/web/20201017160800/https://www.latimes.com/business/la-xpm-2012-may-07-la-fi-mo-madoff-suit-20120507-story.html. Retrieved 2020-10-11. "Irving H. Picard is expanding an existing lawsuit to also include three of Madoff’s sons’ spouses. The suit claims that the women should have been aware of and reported Madoff’s fraud, which bilked investors of $20 billion."
- ↑ Bill Rochelle (2012-05-07). "Madoff Sons’ Wives Sued by Trustee Picard for $57.5 Million". Washington Post. Archived from the original on 2020-10-17. https://web.archive.org/web/20201017225918/https://www.washingtonpost.com/business/economy/madoff-sons-wives-sued-by-trustee-picard-for-575-million/2012/05/07/gIQAhgBV9T_story.html. Retrieved 2020-10-17. "The revised complaint adds Stephanie Mack, Mark Madoff’s widow, and Deborah Madoff, Andrew Madoff’s wife, as defendants on $54.5 million in claims for unjust enrichment. Picard also is suing for $3 million that allegedly was transferred to the two women and to Susan Elkin, Mark Madoff’s first wife."
- ↑ "Madoff Son's Suicide Followed Battle with Trustee". CNBC. 2010-12-12. Archived from the original on 2019-10-18. https://web.archive.org/web/20191018213622/https://www.cnbc.com/id/40634612.
- ↑ "Madoff wives to face trustee claims". Toronto Star (New York City). 2012-04-06. Archived from the original on 2020-10-17. https://web.archive.org/web/20201017184257/https://www.thestar.com.my/business/business-news/2012/04/06/madoff-wives-to-face-trustee-claims. Retrieved 2020-10-17. "US Bankruptcy Judge Burton Lifland in Manhattan said that the trustee Irving Picard may pursue about US$43mil of claims against Deborah Madoff, who married Andrew Madoff, and US$33mil of claims against Stephanie Mack, the widow of Mark Madoff."
- ↑ Erik Larson (2016-05-09). "Madoff Sons' Fight Over Cash Persists Years After Their Deaths". Wealth management magazine. Archived from the original on 2016-05-10. https://web.archive.org/web/20160510102311/https://www.wealthmanagement.com/high-net-worth/madoff-sons-fight-over-cash-persists-years-after-their-deaths. Retrieved 2023-05-19. "The trustee likely wants to 'deprive every Madoff -- or Madoff relation -- of any possible fruit of the fraud,' said Richard Scheff, a former federal prosecutor who’s chairman of Montgomery McCracken Walker & Rhoads LLP in Philadelphia. The new complaint, if it’s approved, will also 'send a message to Bernie Madoff that his crimes will plague his family for the rest of his life and beyond.'"
- ↑ Kaja Whitehouse (2017-06-27). "Madoff sons’ estates to forfeit $23M in ill-gotten gains". New York Post. Archived from the original on 2021-11-27. https://web.archive.org/web/20211127035602/https://nypost.com/2017/06/27/madoff-sons-estates-to-forfeit-23m-in-ill-gotten-gains/. Retrieved 2023-05-19. "The deal leaves Mark Madoff’s estate with $1.75 million and Andrew Madoff’s estate with $2 million, bankruptcy court documents show."
- ↑ Jonathan Stempel (2017-06-26). "Madoff sons' estates in $23 million settlement over Ponzi scheme". Reuters. Archived from the original on 2023-01-31. https://web.archive.org/web/20230131014618/https://www.reuters.com/article/us-madoff-settlement-idUSKBN19H2HJ. Retrieved 2023-05-19. "According to a Monday court filing, the settlement will strip the estates of Andrew and Mark Madoff of 'all assets, cash, and other proceeds' of their father’s fraud, leaving them with a respective $2 million and $1.75 million."
- ↑ 14.0 14.1 Hilary Sargent (2017-10-19). "A Madoff Gets a Makeover, by Giving Them". New York Times. Archived from the original on 2022-10-28. https://web.archive.org/web/20221028185943/https://www.nytimes.com/2017/10/19/style/stephanie-mack-stylist-bernie-madoff-mark.html. Retrieved 2023-05-19. "She got the idea to become a stylist over dinner with a friend, after starting to date again, tentatively, in 2012 and realizing that a good outfit was a kind of protection. 'Somebody gets set up on a date with me, they can find out everything about me,' Ms. Mack said. 'Literally everything. To become less nervous, I needed to feel like I looked good.'"
- ↑ Caroline Hallemann (2017-10-19). "Bernie Madoff's Daughter-in-Law Has Launched a New Business". Town and Country magazine. Archived from the original on 2023-02-05. https://web.archive.org/web/20230205212930/https://www.townandcountrymag.com/society/a13053888/stephanie-madoff-mack-nyt-interview-bernie-madoff/. Retrieved 2023-05-19. "She has launched a small business, and reportedly has a real knack for dressing people who need a fresh start, not unlike herself."
