Thursday, 27 November 2014
Last updated 15 hours ago
Feb 18 2009 | 1:01am ET
Accused hedge fund fraudster Arthur Nadel will be spending at least another week in jail after his bail hearing was delayed again.
U.S. District Court Judge Denise Cote moved Nadel’s bail hearing to Feb. 25 from tomorrow. Last week, the Scoop Management chief, who is accused of defrauding investors in his six hedge funds of $300 million, was moved to Manhattan to face securities and wire fraud charges. Cote ordered prosecutors and Nadel’s defense team to negotiate bail terms, and said she wanted more information on how he had spent the money he allegedly stole for investors.
Nadel’s attorneys have asked that his client be released on bail and allowed to return to his Sarasota, Fla., home. Prosecutors say he is a flight risk, noting that he disappeared for almost two weeks as his hedge funds collapsed and traveled across the country before turning himself in on Jan. 27.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…