13 Facts About Stanley Chais

Stanley Chais was an American investment advisor, money manager, and philanthropist.

Stanley Chais operated "feeder funds" which collected money for funds related to the Madoff investment scandal.

The widow, family, and estate of Chais settled with Madoff trustee Irving Picard in 2016 for $277 million.

Stanley Chais was born to a Jewish family in the Bronx, New York.

Stanley Chais was married to Pamela Chais, a playwright and screenwriter.

Stanley Chais operated "feeder funds" which collected money for funds related to the Madoff investment scandal.

Stanley Chais told clients that he achieved the returns using a complex combination of derivatives, stock, currency and futures trading.

When Stanley Chais claimed to be broke, Picard told a judge that Stanley Chais should sell his Fifth Avenue New York apartment to pay his legal fees.

On September 23,2009, California Attorney General Jerry Brown filed a lawsuit against Stanley Chais seeking $25 million in penalties and restitution for victims.

The widow, children, family, and estate of Stanley Chais settled with Picard in 2016 for $277 million.

Stanley Chais founded the Stanley Chais Family Foundation, which donated extensively to organizations that preserve and further Jewish history and culture, from reestablishing and maintaining Jewish culture in areas where it was diminished by the Holocaust and by Soviet policy, to Israeli organizations.

In Israel, Stanley Chais sat on the boards of Technion, the Weizmann Institute, and Hebrew University of Jerusalem.

Stanley Chais died on September 26,2010, at age 84 in Manhattan, where he and his wife went for treatment of the myelodysplastic syndrome which eventually took his life.