Nadel Wants 5-Year Sentence For His $162M Fraud

Law360, New York (September 28, 2010, 12:26 PM EDT) -- Former hedge fund manager Arthur G. Nadel “deeply regrets” that he orchestrated a Ponzi scheme that cost investors about $162 million, and hopes a judge will sentence him to a term that may allow his release from prison before he dies, his lawyers wrote in a motion.

Nadel's attorneys described their client as “an old, sick, broken man, who has neither the health, means or desire to ever get involved with business again” in a sentencing memorandum filed Monday in the U.S. District Court for the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.