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Strategies & Market Trends : Mafia Stock Mobsta's Social Club (Bulls Board)

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From: jmhollen	6/22/2009 8:20:00 PM
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(To the tune of 'And The Beat Goes On') *NEWSMAKER-Stanley Chais: L.A. agent for Bernie Madoff* 06.22.09, 06:31 PM EDT CHAIS/ (NEWSMAKER):NEWSMAKER-Stanley Chais: L.A. agent for Bernie Madoff By Dan Whitcomb and Gina Keating LOS ANGELES (Reuters) - Like Bernie Madoff in New York, Stanley ( SXE - news - people ) Chais was known among certain wealthy Los Angeles investors as a man who could defy the stock market, if only you were lucky enough to invest your funds with him. A money manager for 40 years, Chais built a clientele that included many among the wealthy Jewish communities in the suburban San Fernando Valley north of Los Angeles, where he was known as a stock market wizard whose clientele was exclusive. With Madoff awaiting sentencing after pleading guilty to a $65 billion pyramid scheme, Chais, 83, was charged in an SEC lawsuit Monday with ignoring red flags as he funneled money to his New York counterpart. "What a lot of people were saying about Madoff in New York were things that people were saying in L.A. about Stanley," Daphne Brogdon, who said she lost her entire $80,000 IRA after investing it with Chais, told Reuters in an interview. Brogdon, the host of TV Guide Channel's weekly series "The Fashion Team" and a contributor to CNN Headline's "Showbiz Tonight," decided to invest with Chais after being told that he was consistently beating the market. forbes.com .

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