Biggest Stock Swindle In
Florida's History
A Hedge Fund Based In Sarasota,
Florida
$350 Million Is Missing
His Offices Were $1,800 A Month
Rentals
The Nadels Were Considered
Socialites In Sarasota
The So Called 'Philanthropist'
Even Defrauded The Sarasota Ballet
Sarasota, Florida Has Put Out
An All Points Bulletin
Indications Are He Fled In A
$35 Million Jet
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The Sarasota Herald-Tribune is reporting that investors in a
Sarasota-based hedge fund are likely out $350-million and
the manager of the fund is missing.
"Fund principal Arthur G. Nadel, a prominent player in Sarasota's
jewish social and philanthropic circles, disappeared this week.
His wife, Peg, filed a missing person report with law enforcement
after finding a suicide note."
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His Wife Peggy
She fears he may have committed suicide.
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Active In Jewish Charities
The Nadels were known for their civic activities, serving on boards
and donating money. They donated heavily to Jewish Family & Children’s
Services and Girls Inc. all received cash gifts and pledges from the
couple in recent years.
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Sarasota's Jewish Society
“We’re very fortunate in that way,” said Rose Chapman, president of
Jewish Family & Children’s Services. Moody was co-chair of the
organization’s capital campaign.
“We’ve received gifts from them over the years, but they were all
cash,” said Stephanie Faltz, Girls Inc.’s executive director.
The Nadels were top notch, and this makes me very, very sad.”
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The Corporation
They operated out of a rented storefront in Sarasota.
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The Golden Touch
Like many of their kind they saw themselves as titans of society.
No longer were they back alley Krakow pickpockets and swindlers. The
Nadels also own the Venice Jet Center.
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Zionists Line Up For A Bailout
After the Madoff affair the SPIC decided to cover loses on
these swindles. So now, there is a flock showing up with
'financial statements' issued by Nadel, showing they had fortunes
invested with their fellow Israelite.
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Local Psychiatrist Lost Everything
“I feel abused. I feel beaten. I don’t know who to believe,” said
Dr. Brad Lerner, who expects to lose nearly $730,000 in an IRA fund
with Nadel and Moody.
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The Money Is In Israel
Law enforcement officials say the missing money may have been moved
overseas.
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Nadal's Partner Is Neil Moody
In a letter to investors, Fund principal Neil V. Moody stated that
the funds "may have virtually no remaining value," and that no one
else at downtown Sarasota's Scoop Management realized the funds were
empty.
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Nadel's Accountant Is Stunned
Michael Zucker, Scoop's internal accountant, said he was
"blindsided" by the turn of events. "We're trying to trace everything
backwards," Zucker said. "We had no idea this was happening, that
money was disappearing. We saw statements and assumed they were
accurate."
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Linked To Some Charitable Organization
The two principals running the hedge fund have ties to charitable fund.
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The So Called Philanthropists
Nadel gave $1.1 million to YMCA, but the check stayed at his firm.
His donations to Habitat for Humanity had a catch - his company had to
build the housing. So he billed charities, and federal agencies, for
millions and the housing is incomplete?
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Another Nadel Scam
He sold prefabricated houses.
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Sarasota Police Drop Out
Police Department Captain William Spitler has dropped the
case and the FBI will take over.
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Investors in a Sarasota-based hedge fund could be out $350 million, and
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That Money Is Gone
So where were the accounting firms, the employees, the trading
brokers, the SEC, or anyone that was involved? One single guy just
didn't steal $350 million. This Nadel character is just the garbage that got caught.
Most of these swindlers just cover their tracks by blaming market
conditions.
Because the financial system, and it's regulatory agencies, are
infested with these creatures, you will never get to the bottom of it
all.
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