5 ▁percent . ▁ ▁Robert ▁J aff e ▁J aff e ▁" work ed ▁the ▁Pal m ▁Beach , ▁Florida ▁circuit , ▁and ▁attract ed ▁many ▁Pal m ▁Beach ▁Country ▁Club ▁members ▁as ▁invest ors ". ▁J aff e ▁claimed ▁he ▁had ▁received ▁a ▁commission ▁of ▁ 1 % ▁to ▁ 2 % ▁from ▁an ▁invest or ' s ▁first ▁profit ▁after ▁he ▁gu ided ▁their ▁money ▁to ▁M ado ff . ▁J aff e ▁paid ▁comm issions ▁to ▁financial ▁advis ers ▁who ▁ste ered ▁c ash ▁to ▁M ado ff ' s ▁fund . ▁▁▁ ▁On ▁January ▁ 1 4 , ▁ 2 0 0 9 ▁William ▁Gal vin , ▁Secretary ▁of ▁the ▁Commonwealth ▁of ▁Massachusetts , ▁who ▁is ▁in ▁charge ▁of ▁the ▁state ' s ▁se cur ities ▁issues , ▁file d ▁suit ▁against ▁J aff e , ▁who ▁promoted ▁M ado ff ' s ▁funds ▁to ▁wealth y ▁invest ors ▁in ▁Massachusetts ▁and ▁Florida . ▁On ▁February ▁ 4 , ▁comp elled ▁to ▁test ify , ▁J aff e ▁invoked ▁his ▁Fif th ▁Am end ment ▁right . ▁ ▁On ▁February ▁ 1 1 , ▁ 2 0 0 9 , ▁Gal vin ▁file d ▁a ▁compla int ▁seeking ▁to ▁re voke ▁the ▁Massachusetts ▁license ▁of ▁C oh mad ▁Sec ur ities ▁Cor p ., ▁an ▁account ing ▁of ▁all ▁Massachusetts ▁invest ors ▁C oh mad ▁referred ▁to ▁M ado ff ’ s ▁company , ▁all ▁the ▁fe es ▁it ▁earned ▁doing ▁so ▁( more ▁than ▁$ 6 7 ▁million