Cityfile: New York's Most Notable and Influential

Andy and Mark May Be Next | More Madoff-related indictments may be on the way, reports Lucinda Franks, who's been covering the case for The Daily Beast (and who happens to be the wife of Manhattan District Attorney Bob Morgenthau). Prosecutors, she says, "are poised to make multiple indictments in the weeks after Labor Day," and "investigators have compiled additional evidence against members of Bernie Madoff's family, specifically his brother Peter Madoff, and his sons Andrew and Mark Madoff." So perhaps the Madoff boys won't get off after all. But it's awfully thoughtful of prosecutors to wait until after Labor Day to bring down an indictment, so the boys can enjoy the rest of their summer vacation, isn't it? [TDB]

It Ain't Easy Being a Madoff | The new issue of Vanity Fair features a piece on Bernie Madoff's two sons, Andrew and Mark, how much they knew about their dad's vast Ponzi scheme, and what life is like for members of the Madoff family these days. Among the revelations: Neither son has spoken to their father since he was arrested in December, nor have they had any contact with their mother; Andrew's estranged wife uses her maiden name when ordering groceries from FreshDirect; and the parents of classmates of Andrew's daughters at Dalton—"apparently fearful of assassins crouching in vestibules"—aren't too keen on letting their children attend parties at the Madoff home. So in case you were wondering, it still does really suck to be related to the biggest scam artist that has ever lived. [Vanity Fair, Page Six]

Andy Madoff Cannot Roam the Streets Alone | Dealbreaker reports that Andy Madoff was out and about recently when he bumped into a former employee of his dad's firm. The encounter was not a friendly one—presumably having "Bernard L. Madoff Investment Securities LLC" on your resume in this job market is not all that much fun—and lots of shoving and punching ensued, according to witnesses. Hopefully the next time something like this happens—such as, say, when Alexandra Penney runs into Ruth Madoff while they're both shopping at Neiman Marcus—someone has a camera handy. [Dealbreaker]

The Noose Tightens | Bad news today for everyone connected to Bernie Madoff. An appeals court judge denied a motion by Peter Madoff, Bernie's brother, to overturn a freeze on his assets. And in a separate ruling, a Connecticut judge temporarily froze the assets of Bernie's two sons, as well as execs at several Madoff feeder funds, including Walter Noel and several of his flunkies at Fairfield Greenwich Group. Yes, for Andrés Piedrahita, not only is the party long over, but the club was switched on the lights and blocked off the exits, too. [Bloomberg, Reuters]

• A group of teens who supposedly lost their trust funds to Bernie Madoff's Ponzi scheme have taken responsibility for covering his Palm Beach estate with toilet paper this weekend. [Palm Beach Post]
• More on what Bernie's sons may (or may not have) known about their dad's scheme. [WSJ]
• What motivated Madoff to carry out his nefarious plot? According to a former FBI profiler, he has all the characteristics of a psychopathic serial killer. [NYT]
• More on the man charged with defending Madoff, Ira Sorkin. [Crain's]

It's hard to imagine what life must be like right now for Andy and Mark Madoff, the sons of alleged scam artist Bernie Madoff. It's still unclear if the two had any role in helping their dad carry out the $50 billion fraud and if they'll eventually face legal charges. Their reputations have been decimated. Worst of all, they didn't get those Hanukkah gifts that their dad hoped to give them, expensive pieces of jewelry that were intercepted by the authorities (and may ultimately cost Bernie his freedom if a judge rules the gifts violated the conditions of his bail). They didn't get the cash that Bernie had hoped to give them either, the signed checks to friends and family discovered in Bernie's desk drawer when he was arrested. But, as always, we're here to help! More

Madoff Liquidator Scores | Bernie Madoff's high-profile investors may be out of luck, but employees of his firm aren't getting totally left out in the cold. The trustee presiding over the liquidation of Madoff's investment firm convinced a bankruptcy judge this morning to release $28.1 million to cover employee salaries and other expenses. This should ensure that Mark and Andy Madoff—who both worked for their father and claim they had no knowledge of their dad's scheme—get to see a paycheck at the end of the week. Perhaps they can take another fishing trip to celebrate? [NYP]

Bernie Madoff has been sequestered in his apartment since his bail conditions were modified on Friday, but that's hardly put a damper on the media frenzy. Over the weekend, the Post was kind enough to tally the funds lost by members of the Fifth Avenue Synagogue (or the "Temple of Doom," as the Post describes it), a $2 billion sum that includes a $200 million investment by Ira Rennert, an amount that is about twice what he spent on his house in the Hamptons. The Times offered up an extremely detailed look at Madoff's rise over the years, and revealed that Walter Noel, who runs the Fairfield Greenwich Group, collected more than $500 million in fees from the $7.5 billion he steered into Madoff's hands, a good portion of whuch was rustled up thanks to the efforts of his globetrotting sons-in-law.More

What do Bernie Madoff and Tony Soprano have in common (besides their fondness for lives of crime)? It turns out that Bernie's son, Andrew Madoff, sold his previous apartment on East 66th Street to none other than Sopranos creator David Chase in 2005. Ominous foreshadowing? Complete coincidence? We have no idea, but this does suggest who the front-runner is when the time comes to turn the tawdry Madoff family tale into a film or movie of the week. (And if Tony Sirico can shed the Italian accent and trade in the polyester outfit for a suit from Syms, he may have the looks to play Bernie.) The official record of the sale is below.More

For the past few days we've been hearing about the long list of charities that lost millions in Bernie Madoff's elaborate Ponzi scheme. But what about Madoff's own charitable contributions? Although he's been widely described as a prominent donor to various Jewish causes, Madoff hasn't been giving away bundles of cash for some time now. In 2007, the Madoff Family Foundation, which listed $19 million in assets at the end of the year, reported handing out $95,000 over the course of the year, down more than 90 percent from the year before when the foundation gave away $1.2 million. Perhaps he had an inkling the end was near and decided to hold on to as much cash as possible? More

♦  Bella Sapir, the ex-wife of billionaire Tamir Sapir (pictured with the couple's son, Alex), paid $8.895 million for a penthouse apartment at the Veneto at 250 East 53rd Street. [Cityfile]
♦  Andrew Madoff, managing director of Madoff Investment Securities, paid $4.38 million for a five-bedroom spread at 433 East 74th Street. [Cityfile]
♦  Rumi Contractor, a senior exec at HSBC, picked up a two-bedroom pied-à-terre at 14 East 33rd Street for $1.67 million. [Cityfile]