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Bernard Madoff has been in federal custody for eight years, but much of the $17 billion invested in his Ponzi scheme is still missing. Last week, attorneys recovered another $277 million of the missing assets through a settlement with the estate of a money manager named Stanley Chais, a once-prominent Jewish philanthropist whose phone number…
More tawdry news on the Madoff front. Lawsuits have been filed against Stanley Chais and Jeffry Picower for receiving what appear to be suspiciously generous and apparently preferential returns for their investments. An investigative report by ProPublica documents that Picower and his family withdrew an astonishing $5.1 billion from Madoff — more, apparently, than Madoff…
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