Ponzi Schemer Nadel Barred From Securities Trading

Law360, New York (August 19, 2010, 1:34 PM EDT) -- A federal judge has hit convicted Ponzi schemer Arthur Nadel with a permanent injunction barring him from any further securities trading activity.

Judge Richard A. Lazzara of the U.S. District Court for the Middle District of Florida on Wednesday also ordered Nadel to pay disgorgement and civil penalties of an undetermined amount. The judge said he would wait for a disgorgement and penalties request from the U.S. Securities and Exchange Commission, which was pursuing the permanent injunction.

Also Wednesday, Judge Elizabeth A. Kovachevich also of the...
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