SEC Nabs Madoff Feeder Fund, Adviser

Law360, New York (June 22, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has sued a New York broker-dealer and a California investment adviser for allegedly funneling money into Bernard L. Madoff's multibillion-dollar Ponzi scheme.

One of the SEC's suits, filed Monday in the U.S. District Court for the Southern District of New York, targets Cohmad Securities Corp., its chairman Maurice Cohn, its Chief Operating Officer Marcia Cohn and its Vice President Robert Jaffe.

The other, also filed Monday in the same court, targets California investment adviser Stanley Chais, who managed three funds...
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