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What do you think happened to Arthur Nadel?
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He's hiding in a giant pile of money
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Hedge Fund Fraud: Nadel Sentenced To 14 Years

By dcreynolds on | From hedgeco.net
New York (HedgeCo.net) – Florida hedge fund manager Arthur Nadel was sentenced to 14 years at the same prison where Bernie Madoff is serving his 150 year sentence. Nadel’s lawyer argued for five years because of his client’s heart condition, while the prosecution pushed for 20 to 25 years. The Judge settledvon 14 years, ordering the hedge fund manager to surrenderer his five planes, a helicopter and more than $160 million in restitution. The “Mini-Madoff” is accused of cheating investors of...Read Full Story

Fla. hedge manager pleads not guilty in NY

| From ap.org
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...Read Full Story

US judge sets bail conditions for fund manager Nadel

| From reuters.com
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...Read Full Story

Fla. money manager sentenced to 14 years in prison

| From ap.org
A Florida hedge fund manager who worried he'd be labeled a "mini-Madoff" after cheating investors of $168 million has been sentenced to 14 years in prison after pleading guilty to securities fraud. Federal Judge John Koeltl in New York sentenced 78-year-old Arthur Nadel on Thursday. Earlier this year, he apologized for his conduct as he pleaded guilty. Nadel has remained in a federal jail since his arrest in early 2009. The Sarasota , Fla., man went on a two-week, cross-country trip before he...Read Full Story

Money manager's request to release assets denied

| From ap.org
A federal judge has denied Florida hedge fund manager Arthur Nadel's request for a hearing to consider releasing some of his frozen assets to pay attorney fees. In a motion filed last week, Nadel's attorney said the 76-year-old Sarasota man can't pay his firm to represent him for the entire case. Nadel has been charged with securities fraud and is currently incarcerated in New York on $5 million bail. He's accused of bilking as much as $350 million from investors. Prosecutors say Nadel...Read Full Story
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News
Receiver in Nadel case sues Wells Fargo
SARASOTA - The receiver in the Arthur Nadel Ponzi scheme filed a lawsuit Thursday against Wells Fargo, seeking millions of dollars from the nation's fourth-largest bank over its involvement in the scheme that defrauded hundreds of investors.  
From api.bing.com ()
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Objections jeopardize $9.85 million Nadel settlement
Objections jeopardize $9.85 million Nadel settlementSarasota Herald-TribuneBy John Hielscher SARASOTA - A proposed $9.85 million payment by giant investment bank Goldman Sachs Inc. to investors burned by the Arthur Nadel Ponzi scheme could be in jeopardy. Seven investors are objecting to the settlement between Goldman Sachs ...  
From news.google.com ()
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Nadel scheme receiver sues Wells Fargo alleging key role
Wells Fargo’s role in the Arthur Nadel Ponzi scheme was "essential,” according to allegations in a lawsuit filed Thursday by the receiver in the case, the Sarasota Herald-Tribune reports. Hundreds of investors were defrauded in the scheme, losing an estimated $168 million. The bank – then Wachovia – allowed Nadel to set up shadow bank accounts beginning in late 2000, receiver Burton Wiand contends. He was able to route money from investors...  
From bizjournals.com ()
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Receiver Appointed in Wake of Nadel's Ponzi Scheme Announces Settlement With...
TAMPA, Fla., Dec. 14, 2011 (GLOBE NEWSWIRE) -- Burton W. Wiand, who was appointed Receiver in S.E.C. v. Arthur Nadel et al., Case No. 8:09-cv-87-T-26TBM (M.D. Fla.), over various entities associated with Arthur Nadel's Ponzi scheme, announced today that he has reached a settlement with Goldman Sachs Execution & Clearing, L.P. ("GSEC"). GSEC provided customary prime brokerage services to Nadel and certain of the entities associated with his...  
From globenewswire.com ()
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Securities And Exchange Commission V. Nadel
SECURITIES AND EXCHANGE COMMISSION v. NADELLeagle.comArthur Nadel, Scoop Capital, LLC, Scoop Management, Inc., Scoop Real Estate, LP, Valhalla Investment Partners, LP, Valhalla Management, Inc., Victory IRA Fund, Ltd., Victory Fund, Ltd., Viking IRA Fund, LLC, Viking Fund, LLC, Viking Management, LLC, ...  
From news.google.com ()
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