SEC goes after Madoff feeders - South Florida Business Journal:

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In its complaint, the SEC chargexd Cohmad Securities ChairmanMaurice J. COO Marcia B. Cohn and registereed representative Robert Jaffe for marketing investment opportunities withMadoff “whilw knowingly or recklessly disregarding facts indicating that Madoff was operatinhg a fraud,” a press release "These Madoff solicitors collectively received severa l hundred million dollars in fees over the past few decadesz while Madoff ruined the finances of countless investors,” James Clarkson, acting director of the SEC’d New York regional offic e said in a news release.
It’s alleged that Cohmad’sz referral business made up as much as 90 percent ofthe company’ revenue in some years, brought in more than 800 and billions of dollars into Madoff’s advisory business, for which it was paid more than $100 Click to read the complaint. In a separate complaint the SECcharged California-based investmentt adviser Stanley Chais, who oversaw thres funds that invested all of their assetsa with Madoff.
The complaint alleges that, while Chaise held himself out as an investment wizard, he really was “an unsophisticated investofr who did nothing more than turn all of the funds ' assets over to Madoff, while charginb the funds more than $250 million in fees for his purporterd services." Click to read the Chais complaint.