Friday, 24 October 2014
Last updated 10 hours ago
Jan 27 2009 | 12:43pm ET
Arthur Nadel is missing no more. The Florida hedge fund manager accused of defrauding investors in a $350 million Ponzi scheme was arrested this morning.
Nadel turned himself in to the Federal Bureau of Investigation in Tampa, Fla., about 60 miles north of his Sarasota home, at 9:45 a.m. He was accompanied by two attorneys. The Feds had been looking for the Scoop Management chief for a little more than a week; he disappeared two weeks ago.
Nadel is set to appear in federal court in Florida today, although criminal charges against him have been filed in New York, the FBI said. He faces a count apiece of securities fraud and wire fraud, according to CNBC, although the charges have not yet been unsealed. He has already been charged by the Securities and Exchange Commission with lying about the value of six hedge funds he managed. The regulator also said that he transferred more at least $1.25 million from two of the funds to a secret bank account, and that there is now less than $1 million in the funds.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.