Ponzi Schemer Nadel Withdraws Appeal In 2nd Circ.

Law360, New York (March 10, 2011, 7:11 PM EST) -- Former hedge fund manager Arthur G. Nadel on Tuesday withdrew an appeal of his 14-year conviction for running a $168 million Ponzi scheme.

The U.S. Court of Appeals for the Second Circuit dismissed Nadel’s appeal with prejudice according to a stipulation arranged with prosecutors, but offered no further detail about the dismissal.

Nadel apparently will not challenge Judge John G. Koeltl’s judgment, handed down in December in the U.S. District Court for the Southern District of New York, which sentenced him to 14 years and ordered...
To view the full article, register now.