Florida hedge fund manager – New York court issues warrant

U.S. Court in New York demands jailed Florida hedge fund manger to face charges.

West Palm Beach, FL (JusticeNewsFlash.com)–Reuters reported today, Arthur Nadel, the Sarasota, Florida hedge fund manager jailed last week on a possible multi-million dollar investor fraud allegation is to be extradited to New York. Nadel, an investment adviser based in Sarasota, managed six hedge funds. He disappeared on January 14 amidst allegations he may have bilked hundreds of millions investors’ money from six different hedge funds. JusticeNewsFlash.com previously reported he surrendered to the FBI last week and was held in a Tampa Bay jail after being denied bail by the judge at his arraignment.

United States District Court Magistrate Mark Pizzo signed a warrant on Monday, in New York, forcing Nadel to be transported to New York to face securities fraud and wire fraud charges. The court documents allege Nadel stole millions of dollars from investors. According to U.S. investigators, Nadel told his investors the hedge funds held over $300 million. The funds actually have less than $1 million increasing the long list of investment fraud, securities fraud and Ponzi scheme cases across the country. This recent news continues to add to the financial devastation of Americans in the past few months.

Legal news for West Palm Beach securities fraud lawyers.

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About the Author Justice Seeker

Heather L. Ryan, R.N., C.L.N.C- Heather Ryan is a Certified Legal Nurse Consultant with 15 years of experience in the health care industry. Her expertise in reviewing medical records and assisting lawyers with the determination as to whether legal action should be taken provides an invaluable asset to the newsroom. Medical-malpractice, products liability, personal injury and workers’ compensation are some of the recent areas of litigation Ms. Ryan has focused her efforts on. A member of the Florida Justice Association, Heather maintains a long list of certifications and credentials to support her areas of expertise and stays up-to-date with her clinical knowledge working as an emergency room/trauma nurse, at a Level 1, Adult/Pediatric trauma and teaching institution in South Florida.