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Mass. Secretary Of State Strikes At Madoff 'Feeder Fund'

Massachusetts Secretary of State William Galvin wants a company that he calls a "feeder fund" for Bernard Madoff to stop doing business in the state.

Galvin asked state regulators in an administrative complaint filed Wednesday to revoke the securities registration for Cohmad Securities Corp. for failing to provide information about its relationship with Madoff, who is accused of bilking billions from his investment clients in a Ponzi scheme.

Galvin said Cohmad officials have ignored subpoenas or given incomplete responses as part of the state's probe of Madoff.

An associate of Madoff, Robert Jaffe, appeared last week before officers of the Massachusetts Security Division. Galvin has described Jaffe as a registered agent and principal of Cohmad Securities Corp.

This program aired on February 11, 2009. The audio for this program is not available.

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