SEC Receiver Sues ABN For Nadel Ponzi Transfers

Law360, New York (February 16, 2010, 3:41 PM EST) -- The U.S. Securities and Exchange Commission-appointed receiver for the hedge funds of a father-and-son management team that allegedly let Ponzi schemer Arthur G. Nadel run its businesses has sued ABN Amro Bank NV in an attempt to recover more than $500,000 in what the receiver said were fraudulent transfers.

Burton W. Wiand — the receiver for Valhalla Investment Partners LP, Viking Fund LLC, Viking IRA Fund LLC, Victory Fund Ltd., Victory IRA Fund Ltd. and Scoop Real Estate LP — filed his complaint against ABN Amro...
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