Meet South Pasadena’s “Bernie Madoff”

South Pasadena’s Bernie Madoff will be in court today for arraignment:

SOUTH PASADENA – The man local authorities have dubbed “Bernie Madoff of South Pasadena” is scheduled to be arraigned Friday at Los Angeles Superior Court.

Morris Gussin is facing twenty felony counts of grand theft and securities violations in a multi-million dollar Ponzi scheme.

He was arrested by a Federal Bureau of Investigations Task Force in Las Vegas and was extradited by South Pasadena authorities after a two and half year investigation.

Janice and Carlos Sams Cespedes said they were referred to Gussin by a mutual friend to help them go over their insurance policy and write a will after Carlos was diagnosed with a brain tumor in 2004.

“She trusted him and because she trusted him, I trusted him,” Janice said. “He used her name because she’s known in the Pasadena community and unbeknownst to her he was stealing people’s money.”

Gussin is being represented by the law firm of Brown, White & Newhouse, LLP.

“(Gussin) will certainly enter a plea of not guilty to the charges,” said George Newhouse, attorney. “A great number of the charges appear to be seven or eight years old and under the law they have three years to allege grand theft.”

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