Friday, 27 March 2015
Last updated 3 hours ago
Feb 25 2009 | 11:52am ET
While accused hedge fund fraudster Arthur Nadel returns to court today in an effort to win back his freedom, two partners are trying to get their jewelry back.
Neil and Christopher Moody, who have not been charged with a crime but have been sued by a Nadel client, have asked a Florida judge to give them back $675,000 in gems and jewelry they financed to sell to a store, the Sarasota Herald-Tribune reports. The judge created a receivership to seize the jewels two weeks ago, after investor Louis Paolina sued the Moodys, alleging they lied to him about the performance of the Viking Fund, once of the hedge funds subadvised by Nadel.
According to Paolino’s suit, the Moodys used management fees earned on Nadel’s fraud to buy the jewelry.
A lawyer for the Moodys filed a motion last week to dissolve the receivership, arguing that there is no legal reason to hold the assets.
Meanwhile, in New York, Nadel will be back in court, as his attorneys and prosecutors spar over whether the Scoop Management chief, accused of ripping off investors to the tune of $300 million, should be released on bail to his Florida home.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…