Nadel Arrested In Fla.; Criminal Charges Pending

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.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.