Holland & Knight To Pay $25M To Settle Nadel Ponzi Charges

Law360, New York (August 29, 2012, 3:34 PM EDT) -- Holland & Knight LLP will pay $25 million to settle charges that it helped hedge fund manager Arthur Nadel pull off his $168 million Ponzi scheme, according to a settlement approved by a Florida judge Wednesday.

Judge Richard A. Lazarra gave his blessing to the settlement, in which the law firm will pay $25 million to Burton W. Wiand of Wiand Guerra King PL, the receiver appointed by the U.S. Securities and Exchange Commission to recover lost funds, in exchange for a release from liability. The...
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