Arthur Nadel Turns Himself In
January 29, 2009 by willielawsonSarasota (FNP) Florida’s own version of Bernie Madoff, Arthur G.
Nadel, turned himself in on Tuesday to face charges that he stole
millions of dollars through a Ponzi scheme.
million from him, faces two counts of securities fraud and wire fraud.
Mr. Nadel, 76, faces 20 years in prison for each count and a fine of
up to $5 million. He may be moved to New York, where the charges were
filed due to the fact that he used a brokerage house there to wire
money from the hedge funds to his personal accounts.
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