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Sunday, November 8, 
7:26 am

Madoff associate ignores subpoena

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Hancuffs.jpgRobert Jaffe, the associate and so-called "point man" for alleged Ponzi schemer Bernard Madoff, failed to show up to testify Tuesday morning before Massachusetts regulators.

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Jaffe, son-in-law of Boston-philanthropists-turned-Madoff-victims Carl and Ruth Shapiro, was subpoenaed in the Madoff case and was set to meet with Secretary of the Commonwealth William Galvin, who regulates securities sales in the state. According to the Boston Herald, Brian McNiff, a spokesman for Galvin, said, "He didn't show up."

Galvin had subpoenaed Jaffe and his employer, Madoff's Cohmad Securities subsidiary, last month in connection with the alleged $50 billion Ponzi scheme.

"What happens next is to be determined," a spokesman for the regulator told the newspaper. - Donna Block



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