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Missing Florida Hedge Fund Manager Surrenders to Federal Authorities

By David Lohr

Arthur G. Nadel, the missing 76-year-old hedge fund manager from Sarasota, Fla., was arrested last week after turning himself in to federal authorities. According to the U. S. Attorney's Office, Nadel, accompanied by two attorneys, surrendered in Tampa on Jan. 27, at which time he was arrested for securities fraud and wire fraud. Nadel had been missing since Jan. 14, when he allegedly fled Florida after his investors began to suspect that he had defrauded them of $350 million. Authorities released the criminal complaint against Nadel on the day of his arrest. The complaint also contained excerpts from a handwritten letter found in a shredding machine in his office that Nadel had allegedly written to his wife, Peg, before he disappeared...continue to full post

Full post as published by Criminal Report Daily on February 03, 2009 (boomark / email).