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Another Madoff Surfaces This Time In Florida January 26. 2009
Arthur Nadel and wife This article is a follow up to the
STORY SOURCE US regulators file charges against missing fund manager MIAMI (AFP) — US regulators have filed fraud charges against a missing Florida hedge fund adviser who allegedly scammed clients and overstated a series of fund investments by up to 300 million dollars, officials said. The Securities and Exchange Commission filed charges in a Tampa federal court against Arthur Nadel, who disappeared on January 14, documents showed on Wednesday. The 76-year-old fund manager was eyed by authorities as part of a larger crackdown on money managers in the wake of Wall Street baron Bernard Madoff's alleged 50 billion dollar fraud in a purported Ponzi scheme..."One investor in one fund received an account statement for November 2008 indicating that her investment was valued at almost 420,000 dollars. In fact, the entire fund had less than 100,000 dollars at that time." |
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