Ex-Fla. hedge fund manager Nadel dies in prison
{{#rendered}} {{/rendered}}A Florida hedge fund manager sentenced to 14 years in prison after cheating investors of $168 million has died.
Bureau of Prisons spokeswoman Traci Billingsley said Tuesday that Arthur Nadel died at the federal prison in Butner. He was 80.
Billingsley had no other details.
{{#rendered}} {{/rendered}}Nadel pleaded guilty in 2010 to securities fraud and was sentenced by a federal judge in New York. Prosecutors said 390 clients had invested nearly $400 million with him. Nadel went on a two-week, cross-country trip before he surrendered and worried he would be dubbed a "mini-Madoff," a reference to Ponzi king Bernard Madoff.
At his attorney's request, Nadel was sent to the same prison where Madoff is serving a 150-year sentence for cheating thousands of investors out of billions of dollars. Madoff pleaded guilty to fraud charges in 2009.