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Stanley Chais

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BUSINESS
September 29, 2010
At the time of his death, former Beverly Hills money manager Stanley Chais was facing several civil lawsuits related to his financial investments with Bernard L. Madoff. He also was under criminal investigation by the U.S. attorney's office in New York. No criminal charges were filed. The civil lawsuits pending include: Picard lawsuit: Irving H. Picard, trustee overseeing the liquidation of Madoff's assets, sued Chais, his wife, Pamela, and several family members in Manhattan Bankruptcy Court in May 2009, seeking to recover hundreds of millions of dollars Picard said were ill-gotten profits from Madoff's Ponzi scheme.
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BUSINESS
September 29, 2010
At the time of his death, former Beverly Hills money manager Stanley Chais was facing several civil lawsuits related to his financial investments with Bernard L. Madoff. He also was under criminal investigation by the U.S. attorney's office in New York. No criminal charges were filed. The civil lawsuits pending include: Picard lawsuit: Irving H. Picard, trustee overseeing the liquidation of Madoff's assets, sued Chais, his wife, Pamela, and several family members in Manhattan Bankruptcy Court in May 2009, seeking to recover hundreds of millions of dollars Picard said were ill-gotten profits from Madoff's Ponzi scheme.
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BUSINESS
September 16, 2010 | By Stuart Pfeifer, Los Angeles Times
Beverly Hills financial advisor Stanley Chais made a fortune serving as Bernard L. Madoff's connection to Southern California's rich and powerful. He hobnobbed with Hollywood elite, won praise as a generous philanthropist and kept homes on both coasts. These days, though, the 84-year-old Chais spends the bulk of his time shuttling from one medical appointment to the next, weighed down by an ongoing federal criminal investigation and myriad lawsuits that could ruin him financially.
BUSINESS
September 29, 2010 | By Stuart Pfeifer, Los Angeles Times
The weekend death of Beverly Hills money manager Stanley Chais, who steered hundreds of millions of dollars to the Ponzi scheme operated by Bernard L. Madoff, puts an end to a criminal investigation by the U.S. attorney's office in New York. But a spate of civil lawsuits will probably continue as the government and angry investors try to lay claim to any assets he left behind. Chais, 84, who died Sunday in New York, had been under criminal investigation since January 2009, suspected of operating a so-called feeder fund that channeled millions of dollars from clients to Madoff while telling investors he was making huge gains through equities and other financial instruments.
BUSINESS
December 12, 2009 | By Stuart Pfeifer
Federal prosecutors disclosed Friday that they were conducting a criminal investigation of Beverly Hills money manager Stanley Chais, who is accused of serving as the Southern California link to a Ponzi scheme operated by disgraced financier Bernard L. Madoff. Assistant U.S. Atty. William J. Stellmach revealed the criminal investigation in a motion that sought to postpone for six months a civil lawsuit filed by the Securities and Exchange Commission against Chais in June. Stellmach said that proceedings in the SEC lawsuit, if not suspended, could interfere with an "ongoing, parallel criminal investigation" of Chais.
BUSINESS
June 23, 2009 | Stuart Pfeifer and Claudia Eller
A key to the long-running success of Bernard L. Madoff's $65-billion Ponzi scheme was its secrecy and exclusivity. You had to know someone to get a piece of the action. In Hollywood, that someone was often Beverly Hills money manager Stanley Chais, authorities say. On Monday, the Securities and Exchange Commission offered new details about how big a player regulators believe Chais was. When the Ponzi scheme collapsed, Chais investors' accounts were valued at nearly $1 billion, authorities said.
CALIFORNIA | LOCAL
September 26, 2010 | By Stuart Pfeifer and David Sarno, Los Angeles Times
Stanley Chais, the Beverly Hills money manager whose clients lost hundreds of millions of dollars in the notorious Wall Street investment scam run by Bernard L. Madoff, died Sunday in New York. He was 84. Chais, who was facing a lawsuit by the Securities and Exchange Commission and was under criminal investigation by federal prosecutors in New York, died at an undisclosed location in Manhattan, said Ellen Borakove, spokeswoman for the New York City chief medical examiner. No cause was given, but Chais had been suffering from a rare blood disease.
BUSINESS
September 29, 2010 | By Stuart Pfeifer, Los Angeles Times
The weekend death of Beverly Hills money manager Stanley Chais, who steered hundreds of millions of dollars to the Ponzi scheme operated by Bernard L. Madoff, puts an end to a criminal investigation by the U.S. attorney's office in New York. But a spate of civil lawsuits will probably continue as the government and angry investors try to lay claim to any assets he left behind. Chais, 84, who died Sunday in New York, had been under criminal investigation since January 2009, suspected of operating a so-called feeder fund that channeled millions of dollars from clients to Madoff while telling investors he was making huge gains through equities and other financial instruments.
BUSINESS
October 9, 2009 | Stuart Pfeifer
A bankruptcy judge in New York has frozen the assets of Beverly Hills money manager Stanley Chais, who is accused of funneling hundreds of millions of his clients' dollars to a Ponzi scheme operated by disgraced financier Bernard L. Madoff. The order, signed Wednesday by U.S. Bankruptcy Judge Burton R. Lifland, prohibits Chais from accessing funds held at Goldman Sachs, City National Bank or any other institution. The order stands until an Oct. 22 hearing, at which the freeze could be extended.
BUSINESS
May 22, 2009 | Walter Hamilton
Stanley Chais, the former Beverly Hills money manager under investigation for his role in the Bernard L. Madoff scandal, has more than enough money to hire a lawyer for himself, said a trustee in a Madoff liquidation case. Marc Hirschfield, a lawyer for the trustee, responded Thursday to Chais' claim that he can't pay for a lawyer and has life-threatening medical problems that could compromise his ability to withstand a trial.
CALIFORNIA | LOCAL
September 26, 2010 | By Stuart Pfeifer and David Sarno, Los Angeles Times
Stanley Chais, the Beverly Hills money manager whose clients lost hundreds of millions of dollars in the notorious Wall Street investment scam run by Bernard L. Madoff, died Sunday in New York. He was 84. Chais, who was facing a lawsuit by the Securities and Exchange Commission and was under criminal investigation by federal prosecutors in New York, died at an undisclosed location in Manhattan, said Ellen Borakove, spokeswoman for the New York City chief medical examiner. No cause was given, but Chais had been suffering from a rare blood disease.
BUSINESS
September 16, 2010 | Stuart Pfeifer, Los Angeles Times
Beverly Hills financial advisor Stanley Chais made a fortune serving as Bernard L. Madoff's connection to Southern California's rich and powerful. He hobnobbed with Hollywood elite, won praise as a generous philanthropist and kept homes on both coasts. These days, the 84-year-old Chais spends the bulk of his time shuttling from one medical appointment to the next, tormented by an ongoing federal criminal investigation and myriad lawsuits that could ruin him financially. Eight months have passed since the U.S. Attorney's Office in Manhattan disclosed that it was considering criminal charges against Chais, but there has been no indictment and little explanation of where the case stands.
BUSINESS
January 20, 2010
Madoff's trustee seeks dismissal of suit The liquidator for Bernard Madoff's business sought dismissal of a lawsuit accusing him of lying to Goldman Sachs Group Inc. when he pressured the firm to freeze the assets of longtime Madoff investor Stanley Chais. Trustee Irving Picard was permitted by law to send a letter to Goldman persuading it to block the account, he said in a filing last week in U.S. Bankruptcy Court in New York. Picard, who in May sued Chais for the return of $1 billion in profit from the fraud, denied Goldman's allegations that he threatened the bank.
BUSINESS
December 12, 2009 | By Stuart Pfeifer
Federal prosecutors disclosed Friday that they were conducting a criminal investigation of Beverly Hills money manager Stanley Chais, who is accused of serving as the Southern California link to a Ponzi scheme operated by disgraced financier Bernard L. Madoff. Assistant U.S. Atty. William J. Stellmach revealed the criminal investigation in a motion that sought to postpone for six months a civil lawsuit filed by the Securities and Exchange Commission against Chais in June. Stellmach said that proceedings in the SEC lawsuit, if not suspended, could interfere with an "ongoing, parallel criminal investigation" of Chais.
BUSINESS
October 9, 2009 | Stuart Pfeifer
A bankruptcy judge in New York has frozen the assets of Beverly Hills money manager Stanley Chais, who is accused of funneling hundreds of millions of his clients' dollars to a Ponzi scheme operated by disgraced financier Bernard L. Madoff. The order, signed Wednesday by U.S. Bankruptcy Judge Burton R. Lifland, prohibits Chais from accessing funds held at Goldman Sachs, City National Bank or any other institution. The order stands until an Oct. 22 hearing, at which the freeze could be extended.
BUSINESS
June 23, 2009 | Stuart Pfeifer and Claudia Eller
A key to the long-running success of Bernard L. Madoff's $65-billion Ponzi scheme was its secrecy and exclusivity. You had to know someone to get a piece of the action. In Hollywood, that someone was often Beverly Hills money manager Stanley Chais, authorities say. On Monday, the Securities and Exchange Commission offered new details about how big a player regulators believe Chais was. When the Ponzi scheme collapsed, Chais investors' accounts were valued at nearly $1 billion, authorities said.
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