Calif. Sues Beverly Hills Money Guru Tied To Madoff

Law360, New York (September 22, 2009, 5:44 PM EDT) -- California on Tuesday filed a multimillion-dollar fraud lawsuit against moneyman Stanley Chais, characterized by state Attorney General Jerry Brown as a "Madoff middleman" who directed hundreds of millions of dollars to the imprisoned Ponzi-meister.

The Los Angeles County Superior Court lawsuit accuses Chais, of Beverly Hills, of securities fraud and making false statements, among other violations.

"For decades, Stanley Chais posed as an investment wizard, but in truth he was nothing more than a Madoff middleman, channeling hundreds of millions of dollars in investor funds to...
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