aug 1, 1983 - Bienes Hooks In To Madoff's "Money Machine" & Elected to NASD Advisory Council

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Their accounting business is becoming a headache, so Frank Avellino and Michael Bienes decide to drop it and "live off the Madoff" -- go full time into recruiting clients for him. By the mid-80s their cut is reaching several million dollars a year.

In 1987, he moves to Fort Lauderdale, Fla., and opens a second office.He serves on the council for four years; he also sits on numerous NASD committees and task forces, chairing several.

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