Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (105811)	1/17/2009 2:09:00 PM
From: scion	Read Replies (1) \| Respond to of 122087

Florida Fund Manager Disappears as Clients Report Missing Money By Saijel Kishan bloomberg.com Jan. 17 (Bloomberg) -- Arthur Nadel, a hedge-fund manager in Sarasota, Florida, has disappeared and clients are concerned they may have lost hundreds of millions of dollars, according to law enforcement officials. Nadel, 76, is president of Scoop Management Inc., which oversees funds including Valhalla Investment Partners LP. He was reported missing three days ago after he called his stepson, Geoff Quisenberry, and told him to go to his house where he had left a note, Lieutenant Chuck Lesaltato of the Sarasota County Sheriff’s Office said yesterday in a telephone interview. Nadel’s wife, Peg, and Quisenberry, were “concerned about his welfare,” Lesaltato said. Nadel had sounded “distraught,” Lesaltato said, citing the note. Scoop may have managed as much as $350 million, the Herald- Tribune in Sarasota reported yesterday on its Web site. The newspaper said Nadel was a “prominent player in Sarasota social and philanthropic circles.” It described his note as a suicide note. Nadel was last seen by his wife at 8:45 a.m. on Jan. 14 when he left for work, Lesaltato said. Sarasota police launched an investigation yesterday after receiving calls since 1:30 p.m. concerning allegations about “hundreds of millions of dollars” missing, Captain William Spitler said in a telephone interview. Computer-Guided Trading Nadel, who graduated from New York University Law School, was a real estate developer during the 1960s, according to marketing documents for the Valhalla fund, which was incorporated in 1999. The Nadels and others started a firm two years earlier that used computer-generated investment and trading programs, according to the documents. Calls to Scoop’s offices were answered by voice mail. The disappearance of Nadel comes more than a month after Bernard Madoff, 70, was arrested for securities fraud after allegedly using billions of dollars from new investors to pay off older ones. Madoff told authorities that investors may have lost $50 billion in a “giant Ponzi scheme,” prosecutors said. Indiana investment adviser Marcus Schrenker was taken into custody by police in Gadsden County, Florida, earlier this week after he allegedly attempted to fake his death in a plane crash and use a motorcycle to escape. Authorities said Schrenker may have defrauded investors through three companies he owns in a suburb of Indianapolis, CNN reported yesterday. To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net Last Updated: January 17, 2009 00:01 EST bloomberg.com

To: scion who wrote (105811)	1/19/2009 10:39:59 AM
From: scion	Respond to of 122087

F.B.I. and S.E.C. Probe Missing Fund Manager January 18, 2009 By BLOOMBERG NEWS nytimes.com The F.B.I. and securities regulators have joined the investigation of Arthur Nadel, a Florida hedge fund manager who disappeared four days ago, leaving clients concerned that they might have lost as much as $350 million. The Federal Bureau of Investigation and the Securities and Exchange Commission are helping on the case, police Lt. Stanley Beishline of Sarasota, Fla., said in a telephone interview. One of Mr. Nadel's business partners, Neil Moody, said Mr. Nadel had spoken to his wife, Peg, since he was reported missing. Mr. Nadel, 76, is president of Scoop Management in Sarasota, which oversees funds that include Valhalla Investment Partners. Mr. Moody holds no position in Scoop Management and was a partner with Mr. Nadel only on the Vahalla fund and two Viking funds. Scoop's claim to have managed as much as $350 million "may be high because performance results were exaggerated," Mr. Moody said in an interview. Mr. Moody said he did not know anything was wrong until Mr. Nadel was reported missing. Mr. Nadel was last seen by his wife at 8:45 a.m. on Wednesday when he left for work, said Lt. Chuck Lesaltato of the Sarasota County sheriff's office. Calls to Mrs. Nadel's home or cellphone were not answered. The Herald-Tribune in Sarasota described Mr. Nadel as a "prominent player in Sarasota social and philanthropic circles." Mr. Nadel, who graduated from New York University Law School, was a real estate developer during the 1960s, according to marketing documents for the Valhalla fund. nytimes.com