Fund Manager Surrenders To FBI In $300M Fraud Case

Law360, New York (January 28, 2009, 12:00 AM EST) -- Federal authorities have nabbed a missing hedge funds manager who stands accused of securities and wire fraud charges after allegedly overstating the value of the funds' investments by about $300 million.

The U.S. Attorney for the Southern District of New York said that Arthur G. Nadel, 76, of Sarasota, Fla., surrendered to the FBI on Tuesday morning. He had been missing since Jan. 14.

The U.S. Securities and Exchange Commission filed a civil action against Nadel last week, claiming that Nadel provided false and misleading information...
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