Runaway U.S. fund manager arrested and charged

[Scurrilous]

Source: Reuters

<snip>

"Florida fund manager Arthur Nadel, whose family reported him missing in early January, was arrested on Tuesday on criminal charges of securities fraud, U.S. officials said.

New York FBI spokeswoman Monica McLean said Nadel -- head of Scoop Management, overseeing six hedge funds he had valued at more than $300 million (212 million pound) -- would make an initial appearance in a federal court in Florida.

"Arthur Nadel surrendered in the company of two lawyers to FBI agents in Tampa," McLean said.

In a criminal complaint filed in U.S. District Court in Manhattan, Nadel was charged with securities fraud and wire fraud related to his funds from around 2004 until at least January 14 this year."

Read more: http://uk.reuters.com/article/UKNews1/idUKTRE50Q4JR20090127

[KansDem]

1. House arrest?

Or is that only for con-men who swindle to the tune of billions?

[bushwhacker23]

2. One more to add to the list...

Remember those quaint days when oversight and regulation "only got in the way of the free market"? I'd like to see what those people say now, especially after watching these videos.

http://tv1.com/playlists/80