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

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…