SEC charges fund manager Arthur Nadel with fraud (Fund News)
The U.S. Securities and Exchange Commission charged missing Florida money manager Arthur Nadel with fraud on Wednesday and accused him of recently transferring more than $1m to secret accounts he held.
Arthur Nadel, president of Scoop Management Inc. remained missing on Monday. Meanwhile funds invested by and through Mr. Nadel had disappeared along with him.
A Luxembourg judge has frozen some assets held by UBS for Luxalpha, one of the principal European investment funds that gave money to US money manager Bernard Madoff, said a lawyer in the Grand Duchy on Monday.