Just went live on air with this story and now more is coming in on Arthur Nadel. What a loser... he worried his own family... he vanished and they reported him missing earlier this month. And, all the while he was hiring attorneys and planning to turn himself in.
Nadel ran Scoop Management and oversaw 6 hedge funds worth more than $300 million. A few minutes ago he showed up at the FBI office in Tampa with two attorneys... he'll go to fed court in Florida and then get shipped off to NYC where he'll face criminal chargesof running another Ponzi Scheme.
BTW, that $342 million pot of funds... is actually worth $506,000. Again, just like Madoff-- WHERE DID THE MONEY GO?!