California gets paltry $15M in Madoff feeder fraud recovery effort

``California will recover $15 million related to the massive Ponzi scheme engineered by Bernard Madoff as part of a larger agreement liquefying the $277 million estate of a Beverly Hills investment adviser, officials said Friday. The settlement ends a 7-year-old lawsuit filed by the state attorney general against Stanley Chais, who charged what officials called astronomical fees to invest hundreds of millions of dollars from more than 460 often-elderly victims.''