Arthur Nadel

Investment fund manager facing fraud charges surrenders A missing Florida fund manager — whose $300 million in investment funds are actually worth less than $1 million, according to a federal lawsuit — has turned himself in to face fraud charges, the FBI said Tuesday. Arthur Nadel, 76, of Sarasota, "recently transferred at least $1.25 million from two of the funds to secret bank accounts that he controlled," according to a filing last week in federal court by the Securities and Exchange Commission. The suit, filed January 21 in U.S. District Court in Tampa, charged Nadel with fraud "in connection with six hedge funds" in ... Read Full Story

The receiver in the Arthur Nadel Ponzi scheme case struck deals with six more investors in the accused fraudster’s hedge fund fraud. read more Read Full Story

The receiver in the Arthur Nadel Ponzi scheme case struck deals with six more investors in the accused fraudster’s hedge fund fraud. read more Read Full Story

A Florida hedge fund manager who disappeared while investigators closed in on him has pleaded not guilty to fraud. Defense lawyer Mark Gombiner (GAHM'-beye-nur) told a federal judge in Manhattan on Thursday that Arthur Nadel cannot make his $5 million bail. Gombiner says the health of the 76-year-old Sarasota man is one issue warranting a bail reduction. Nadel pleaded not guilty to securities, mail and wire fraud. The charges carry as many as 280 years in prison. The government says Nadel enlisted more than 350 clients to invest more than $360 million. Authorities say Nadel went on a two-week, cross-country trip before turning himself ... Read Full Story

NEW YORK (Reuters) - A U.S. judge set a $5 million bond, house detention and other conditions of bail on Wednesday for accused hedge fund manager Arthur Nadel, who authorities say was on the run for two weeks in January before the FBI arrested him. Nadel's lawyer indicated that his client will not be able to meet the conditions of release set by Judge Denise Cote at a hearing in U.S. District Court in Manhattan. The judge noted that tens of millions of dollars were still unaccounted for in the case in which investigators alleged Nadel told investors the funds he managed held more ... Read Full Story