Andrew Madoff

Andrew Madoff, son of disgraced financier and Ponzi schemer Bernie Madoff, died of cancer in NYC at age 48. His lawyer, Martin Flumenbaum, said Andrew was diagnosed with mantle cell lymphoma, an aggressive cancer of the lymph nodes.

Andrew was Madoff's last surviving son. Madoff's other son, Mark, committed suicide on the 2nd anniversary of his father's conviction in NYC.

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Disgraced Wall Street financier Bernie Madoff, 70, was led away in handcuffs today after pleading guilty to 11 felony charges in Manhattan federal court.

Madoff, who swindled wealthy clients such as Chris Lighty and 50 Cent out of a total of $65 billion, confessed his elaborate Ponzi scheme to his son 3 months ago.

U.S. District Judge Denny Chin ordered that Madoff be jailed while he awaits sentencing on June 16.

Madoff had been free on $10 million bail and living it up on house arrest in his $7 million penthouse. He faces up to 150 years in prison when sentenced, and will likely die behind bars.