Thursday, 27 October 2016
Last updated 5 hours ago
Mar 9 2009 | 1:48am ET
Accused hedge fund fraudster Arthur Nadel has been given more time to find a lawyer to defend him against civil charges leveled by the Securities and Exchange Commission.
Nadel has attorneys defending him against criminal charges that he defrauded investors in six hedge funds he managed of some $300 million, and those same lawyers may also defend him against the SEC complaint. But a federal judge has given him another month to decide.
If Nadel has not picked a lawyer by April 6, he will be unable to contest the SEC’s charges.
Nadel, who lived and worked in Sarasota, Fla., remains in federal custody in New York, unable to post bail