Nadel Bail Hearing Postponed Again

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.

 


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

FINalternatives Most Popular

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

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.