WASHINGTON, Nov 1 (Reuters) - Cohmad Securities and three of its executives agreed to settle regulator's charges that they made misrepresentations to investors about Bernard Madoff's investment business, the U.S. Securities and Exchange Commission said on Monday.
In settling, Cohmad Securities, its chairman Maurice Cohn, chief operating officer Marcia Cohn and former vice president Robert Jaffe did not admit to any wrongdoing.
The three Cohmad executives worked for many years with Madoff and his investment advisory firm Bernard Madoff Investment Securities, but claimed not to know he was defrauding thousands of customers.