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Obituary: Stanley Chais, 84, Philanthropist and Madoff Associate

September 27, 2010, 10:45 am

Stanley Chais, a benefactor of Jewish causes who became a major figure in the Bernard Madoff scandal, died Sunday in New York at age 84, according to the Los Angeles Times and the Associated Press.

The cause of death was not disclosed. Mr. Chais, a longtime resident of Beverly Hills, Calif., had moved to New York in recent years for treatment of a rare blood disease.

Known in philanthropic circles for donating millions of dollars to Israeli organizations, Mr. Chais became the target of investor lawsuits and multiple federal and state investigations over his association with Mr. Madoff, with whom he had invested hundreds of millions of dollars of his clients’ money.

Mr. Chais denied any prior knowledge that Mr. Madoff was running a Ponzi scheme and had said that he and his family foundation were largely wiped out by the fraud.

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