Victims of ‘Mini-Madoff’ See Their Money Again
by Staff Writer on May 10, 2012
Payback came this week for those victimized by the Ponzi scheme of Florida hedge fund manager Arthur Nadel. The Sarasota Herald-Tribune reported Wednesday that 340 investors who lost money in Nadel’s scam received checks in the mail totaling about $26 million. So far, according to the article, $34 million has been recovered by the legally-designated receiver responsible for returning the money. Also, $131 million in claims stemming from the scam are authorized for payout.
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