SEC To Pursue Madoff Associates Charges

02-18-2010 | Source: Emerging Markets Week

The Securities and Exchange Commission is likely to file an amended set of allegations against associates of Bernard Madoff to urge a U.S. judge to reinstate the fraud counts and proceed to trial, The Wall Street Journal reports. The SEC had sued Robert Jaffe, Maurice Cohn and Marcia Cohn, who ran Cohmad Securities, accusing them of helping Madoff conceal his investment operation from regulators.

A district judge had dismissed the SEC’s claim that the defendants aided and abetted Madoff’s fraud. The SEC is planning to increase allegations that Cohmad employees had access to the center of Madoff’s Ponzi scheme.

Click here for the story from The Wall Street Journal.