Nadel Receiver Reaches Deal With Calif. Investor

Law360, New York (January 26, 2011, 4:21 PM EST) -- The receiver for Arthur Nadel's $168 million Ponzi scheme said Wednesday that a newly approved $245,000 settlement with a California investor accused of realizing false profits from the fraud added to a recovery effort exceeding $15 million.

Judge Richard A. Lazzara of the U.S. District Court for the Middle District of Florida approved the deal between Burton W. Wiand of Wiand Guerra King PL — the receiver appointed by the U.S. Securities and Exchange Commission to recover lost funds — and defendant Richard Fagin, of Palo...
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