California Sues Madoff ‘Middleman’ Chais for Fraud

By | September 23, 2009

  • September 23, 2009 at 1:51 am
    wudchuck says:
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    afterall, i could be anyone and told you to invest in anything? he was, and again was an unregistered financial advisor, which means basically he’s not a professional. secondly, this man is 82. what do you think you are going to gain? if he’s so smart and individual, where do you think his money is at? not available for his investors to take! the AG, just wants to make an example out of anyone who just gave bad advice. this is going to waste the gov’t money to prosecute. CA already has a budget problem. how many more gov’t employees will have to be laid off?

  • September 23, 2009 at 2:57 am
    Denise says:
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    If Chais did exercise thorough due diligence when screening Madoff for his clients’ investments, the application to insurance brokers could be devastating. We would be potential suit targets for placing coverage with companies that fail even when we do our due diligence and provide Best ratings. If he did not do thorough due diligence — whether or not he had his skin in the game — then he’s a dead duck should Jerky Brown be successful with this suit. This has dangerous implications for us.



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