A Montrose couple say they lost $1.2 million in a ponzi scheme allegedly operated by wall street money manager Bernard Madoff, and that family members may have lost more.
Robert Chew said Wednesday his wife’s family may have lost about $30 million. The 55-year-old Chew likened the crime to “financial murder.”
The alleged scammer, Madoff was arrested last week after allegedly admitting to the $50 billion scheme and is free on $10 million bail. Prosecutors say he left investors around the world in financial ruin.
