Hedge Fund Adviser Nadel Said to Have Been Moved to New York

Date: Thursday, February 12, 2009
Author: Karen Gullo, Bloomberg

Arthur Nadel, the Florida hedge-fund adviser accused of defrauding investors of more than $300 million, was transferred to New York where he awaits a hearing on federal criminal charges, according to two people familiar with the case.

U.S. Magistrate Judge Mark Pizzo in Florida on Feb. 2 ordered Nadel’s transfer to the federal court in Manhattan. After disappearing on Jan. 14, Nadel, 76, was arrested in Tampa on Jan. 27 and ordered held in prison without bail.

To contact the reporter on this story: Karen Gullo in San Francisco at kgullo@bloomberg.net