Nadel Gets 14 Years For Ponzi Scheme, Blames Self

Law360, New York (October 21, 2010, 6:25 PM EDT) -- A judge has sentenced admitted Ponzi schemer and former hedge fund manager Arthur G. Nadel to 14 years in prison for crimes associated with his defrauding of hundreds of investors out of as much as $162 million.

Judge John G. Koeltl of the U.S. District Court for the Southern District of New York handed down the sentence on Thursday, saying that the 77-year-old defendant's deteriorating health warrants a slightly less harsh penalty than the 20 years the government was seeking.

"There is no question that there...
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