Wells Fargo Settles Nadel Fraud Clawback Suit

Law360, New York (June 10, 2011, 6:03 PM EDT) -- Wells Fargo Securities International Ltd. and a hedge fund on Friday resolved a suit brought in Florida by a receiver for the estate of Arthur G. Nadel, agreeing to turn over funds associated with a $168 million Ponzi scheme.

U.S. District Judge Richard A. Lazzara filed the order approving the deal in the Middle District of Florida. Nadel pled guilty in February 2010 to securities crimes in association with running a group of hedge funds, established under his Scoop Capital LLC and Scoop Management Inc., as...
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Case Information

Case Title

Securities and Exchange Commission v. Nadel et al


Case Number

8:09-cv-00087

Court

Florida Middle

Nature of Suit

Securities/Commodities

Judge

Richard A. Lazzara

Date Filed

January 21, 2009

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