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....
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