Wednesday, January 21, 2009

Update On Missing Florida Money Manager Nadel: SEC Charges Him With Fraud

The Securities & Exchange Commission has charged missing Florida money manager Arthur G. Nadel, 76, of Sarasota, with securities fraud, alleging he misled investors by overstated the value of 6 of his funds by some $300 million. Nadel reportedly left a note to his wife when he disappeared on January 14th, suggesting his guilt and contemplating suicide. Authorities believe he staged his disappearance and found evidence that he transferred at least $1.25 million to two secret bank accounts he controlled.

Read FraudTalk's original post on this story here.

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