Nadel ‘Doesn’t Want To Be Found,’ Sheriff Says

Jan 21 2009 | 2:59am ET

The police in missing hedge fund manager Arthur Nadel’s hometown have given up their search for him, saying “he doesn’t want to be found.”

Nadel disappeared last week, leaving investors in his Scoop Management hedge fund and several other funds he managed fearing they may have lost $350 million. He was reported missing last Wednesday after his stepson found what authorities say was a suicide note at his home, sparking the Sarasota County (Fla.) Sheriff’s Office to open a missing persons’ investigation.

But investigators have concluded that Nadel did not kill himself—authorities traced a weekend phone call he allegedly made to his wife from Slidell, La.—leading the Florida authorities to give up the search. The Federal Bureau of Investigation and Securities and Exchange Commission continue to look for Nadel.

According to a report issued by the Sarasota sheriff yesterday, Nadel’s “suicide note” expressed remorse for the losses his investors suffered last year.

“The subject wrote that as a result of his management of other people’s money that there are those that would like to kill him, but that he will do it himself,” the report said.

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