Judge Tosses Fraud Claims Against Cohmad, Cohn

By Elaine Meyer

Law360, New York (February 02, 2010, 7:07 PM ET) -- A federal judge on Tuesday threw out the U.S. Securities and Exchange Commission's claims that Cohmad Securities Corp, co-founder Maurice “Sonny” Cohn and other executives aided and abetted Bernard Madoff's massive Ponzi scheme in violation of federal securities laws.

In an opinion issued in the U.S. District Court for the Southern District of New York, Judge Louis L. Stanton rejected the SEC's claims that, as the marketing arm for Bernard L. Madoff Investment Securities LLC, the company knew of or recklessly disregarded Madoff's securities fraud....
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