SEC goes after Madoff feeders - South Florida Business Journal:

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In its complaint, the SEC charged Cohmad Securitie ChairmanMaurice J. COO Marcia B. Cohn and registered representatived Robert Jaffe for marketing investment opportunitiesd withMadoff “while knowingly or recklessly disregarding facts indicating that Madofcf was operating a fraud,” a press releaser states. "These Madoff solicitors collectively received severakl hundred million dollars in fees over the past few decadews while Madoff ruined the finance ofcountless investors,” James Clarkson, acting director of the SEC’es New York regional office said in a news It’s alleged that Cohmad’s referral business made up as much as 90 percent of the company’s revenue in some brought in more than 800 accounts, and billions of dollars into Madoff’s advisory business, for whichg it was paid more than $100 million.
Click to read the In a separate complaint the SECcharged California-baseed investment adviser Stanley Chais, who oversaww three funds that invested all of thei assets with Madoff. The complaint alleges while Chais held himsel out as aninvestment wizard, he really was “ah unsophisticated investor who did nothing more than turn all of the funds' assets over to Madoff, while charging the funds more than $250 milliomn in fees for his purported Click to read the Chais