Font Size

National And World News

E-mail

Close Window E-mail This Page

Madoff Company Fined $1 Million

Required fields are marked with an asterisk(*)

Recipient E-mail:*
- Your Name:*
- Your E-mail:*
Add a Message:
Send me a copy of this e-mail.

Type the characters in this picture:*

Click here to refresh with new letters

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

Print Share + Comments

May 8, 2009 12:00 pm US/Eastern

Madoff Company Fined $1 Million

The State Of Massachusetts Has Ruled Against One Of Madoff's Companies

NEW YORK (CBS) ―

Click to enlarge 1 of 1: Bernard L. Madoff leaves Federal Court Jan. 14, 2009, after a hearing regarding his bail in New York.
Timothy A. Clary/AFP/Getty Images

Close

numSlides of totalImages

Related Links

WCBS-TV Local Coverage

More bad news for money scammer Bernard Madoff. The mysterious side company he co-founded, that was headquartered in Boston, Cohmad Securities, must turn over all accounting records to the state of the Massachusetts and pay a $1 million fine.

The decision, by a Massachusetts hearing officer, was announced Friday morning. In February, after an investigation by the Secretary of State William F. Galvin, the state's Securities Division filed a case against Cohmad Securities for failing to cooperate with the state's investigation.

Cohmad Securities has also been banned from conducting any further business in Massachusetts. Its registration has been revoked.

In a media statement, Secretary Galvin said "this ruling reinforces that we do not tolerate licensed securities dealers who refuse to assist in the detection and prosecution of fraud."

WBZ's Most Popular

Add Comment

here. here. Need a log in? Register here

Your Name
Your E-Mail * Will not be displayed with comment
Suggest Link * e.g. (http://www.mywebsite.com)
Your Comment

Type the characters in this picture:*

Click here to refresh with new letters

Show Comments (0)

Close Window Login

Password:

Forgot Password | Register Here

Close Window Flag Comment

You are flagging the following comment:

Username:
E-mail:
Reason:

Type the characters in this picture:*

Click here to refresh with new letters

You need the latest Flash player to view video content.
Click here to download.

Click here to bypass this detection if you already have the latest Flash Player.