Judge Stays SEC Suit Against Alleged Madoff Feeder

Law360, New York (December 15, 2009, 1:16 PM EST) -- A federal judge has stayed the U.S. Securities and Exchange Commission's lawsuit against California investment adviser Stanley Chais, who is accused of running three feeder funds for Bernard Madoff's $65 billion Ponzi scheme, while the Department of Justice pursues a criminal case against him.

Judge Louis L. Stanton of the U.S. District Court for the Southern District of New York granted a motion by Assistant U.S. Attorney William Stellmach to intervene in the case and stay discovery until next June, or another order from the court....
To view the full article, register now.