As the financial tide goes out, all the little creatures reveal themselves. There are many more mini-Madoffs out there.-Lou
Florida money manager, millions, missing: police
MIAMI (Reuters) – A Florida money manager is missing and police have opened an investigation into the possible disappearance of "hundreds of millions" of dollars, authorities said on Friday.
Police are searching for Arthur Nadel, 75, a prominent Sarasota philanthropist and fund manager who was reported missing by his family on Wednesday.
Sarasota police are investigating complaints from at least five investors in Nadel's funds, run from a management office in Sarasota, that their money has disappeared. The Sarasota Herald-Tribune reported investors could be out as much as $350 million.
"It was brought to our attention that there has been a very significant number of victims with a very significant amount of money that has disappeared," Sarasota Police Capt. Bill Spitler said. "Allegedly it's hundreds of millions of dollars."
Read Article Here:
http://news.yahoo.com/s/nm/20090117/us_nm/us_nadel_3
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