Hedge fund manager Arthur Nadel, dubbed the “mini-Madoff”, was sentenced to 168 months in jail after being found guilty of embezzling millions of dollars in a Ponzi scheme.
The sentence is one month in jail for every $1 million he embezzled.
Nadel, 77, was found guilty of cheating elderly retirees out of their money, The New York Daily News said. He was convicted of securities, mail and wire…
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Mini-Madoff Arthur Nadel Gets 168 Months in Jail originally appeared on DailyFinance on Fri, 22 Oct 2010 07:28:00.
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