Dec 20, 2008

Madoff's scheme extended to San Marino

The investment scheme put in motion by Bernard Madoff reached around the world, according to a New York Times investigation, so perhaps it's no surprise that it has at least one link to the exclusive city of San Marino, a bastion of wealth in the western San Gabriel Valley and a gateway to trade with Asia. According to the article, Matthew Brown, son of a former San Marino mayor, did marketing for an investment firm that did big business with Madoff and helped him attract Asian investors.

1 comment:

Anonymous said...

The former mayor is Betty Brown, still serving on the city council as vice mayor.