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Other Palm Beach County residents implicated in Madoff's Ponzi scheme

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Bernie Madoff headed to his new home in prison where he will live out the rest of his days. So who's next on the federal government's target list as they continue to investigate who else was involved in the most prolific Ponzi scheme ever? CBS 12 has been pouring over the court documents... which are all on this website. There are hundreds of pages of complaints about people other than Bernie Madoff who allegedly profited from his super scam.

First, lets talk about Jeffery Picower. In court documents lawyers say, "Picower and the other Defendants also knew, or should have known, that they were reaping the benefits of manipulated purported returns, false documents and fictitious profit."

And, "Picower and the other Defendants were among the primary beneficiaries of this scheme, reaping billions of dollars of other people's money.

Picower and his wife Barbara are also well know in the area for their philanthropy. They are some of the biggest donors to the Kravis Center.

The trustee is also going after three other Palm Beach County men for their role in helping recruit investors for Madoff. Robert Jaffe, who lived just down the street from Madoff on Palm Beach, and two other men , Richard Spring and Kurzrok who both live in West Boca Raton were all part of a company called Cohmad Securities. They were paid almost $70 million dollars for something called "account supervision." The trustee says they recruited many local investors.

These people are not yet facing criminal charges, these complaints are filed by the trustee trying to recoup the money Madoff stole.


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