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Nadel sentenced to 14 years in prison for fraud
 
  Hedgeweb - FRI, OCT 22 2010
Funds & Investment Arthur Nadel, a Florida money manager accused of defrauding investors of $168m, was sentenced to 168 months in prison.

Nadel, the 77-year-old founder of Scoop Management Inc. in Sarasota, Florida, pleaded guilty in February to a 15-count indictment filed by U.S. prosecutors in New York. The charges included securities fraud, wire fraud and mail fraud.

??This was a massive fraud perpetrated on vulnerable victims who rightly deserve the protection of the law,? U.S. District Judge John Koeltl said before imposing the sentence.

 
 
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