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Bernie Madoff's son Andrew dies of cancer in NYC

NEW YORK - Bernard Madoff's last surviving son has died of cancer.

His lawyer, Martin Flumenbaum, says Andrew Madoff, 48, died Wednesday at a New York City hospital. He says the cause was mantle cell lymphoma.

Andrew Madoff was one of Madoff's two sons. The other, Mark, committed suicide.

Mark and Andrew Madoff both worked on a trading desk at Madoff's firm. It was a side of the business that wasn't directly involved in the Ponzi scheme.

Bernard Madoff was arrested in December 2008.

In a 2011 interview with "60 Minutes" correspondent Morley Safer, Andrew Madoff recalled the moment his father told the family about the scam.

"He said, 'Everything I've been doing is all a big lie.' He said, 'The business is a Ponzi scheme, andthe firm is completely insolvent. And I'm broke.' And then he just started sobbing. And I was shocked. I felt like my head exploded. I mean, I don't think if he had told me he was an alien I could've been more surprised. He said that the firm had liabilities of $50 billion dollars. It never occurred to me that his business had anything like that under management. It was shocking," he recalled.

Funeral arrangements will be private.

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