FARK.com: (4150342) Today's hedge-fund manager disappearing after losing $350 million is... Arthur Nadel

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		Today's hedge-fund manager disappearing after losing $350 million is... Arthur Nadel (bloomberg.com)		50
		More: Florida

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8485 clicks; posted to Main » and Business » on 17 Jan 2009 at 2:50 AM (12 years ago) | Favorite | share:

50 Comments (+0 »)

PoopStain

2009-01-17 1:15:41 AM

I would hope, should I ever have the opportunity to lose $350 million of other people's money, that I have the balls to write a big note of apology to everyone and then off myself.

This guy was halfway there...

NewportBarGuy

2009-01-17 1:28:49 AM

PoopStain: This guy was halfway there...

Let's hope this one doesn't screw up the suicide part. He'll at least save a few million in court costs if he remembers:

Renowned transvestite sexologist

2009-01-17 3:10:34 AM

I wonder how many of these are going to be discovered in the coming months. Due to how hedge funds work, it won't take very long for all of them to be uncovered. Once people stop putting money in the "funds", they immediately go belly up. SInce not many high rollers are investing, especially in big risky over leveraged funds, it won't take too long for them all to be uncovered.

What's interesting is both of the fund managers caught to date dealt with charities. If you don't question the lack of transparency, you'll get burned. They organizations just didn't know better and are getting burned for it.

Thudfark

2009-01-17 3:11:46 AM

Protip:if the company is called Scoop and the fund is Valhalla, just sayin...

Baron Von Supercock

2009-01-17 3:22:56 AM

Hopefully they find him at the bottom of a river.

Juc

2009-01-17 3:27:05 AM

I hope someone is disappearing those guys rather than them running away.
It's probably the only chance of there being justice with these white collar thieves.

lelio

2009-01-17 3:28:58 AM

Valhalla Investment Partners LP

This is the classically educated way of calling your fund "The Super Awesome Frickin Lazer Beams Fund"

StreetlightInTheGhetto

2009-01-17 3:39:05 AM

Juc: I hope someone is disappearing those guys rather than them running away.
It's probably the only chance of there being justice with these white collar thieves.

Schadenfreude-a-riffic, but I approve.

"They're going to disappear him," she said. "Yossarian squinted at her uncomprehendingly. "They're what?" he asked in surprise, and laugh uneasily. "What does that mean?"

"I don't know. I heard them talking behind a door."

"Who?"

"I don't know. I couldn't see them. I just heard them say they were going to disappear Dunbar."

Why are they going to disappear him?"

"I don't know."

"It doesn't make sense. It isn't even good grammar. What the hell does it mean when they disappear somebody?"

just2quixotic

2009-01-17 3:48:47 AM

I just wish I could think of a way of stealing hundreds of millions or even billions of dollars from bank CEOs, Oil company CEOs, Car company CEOs, arms manufacturing CEOs, hedge fund managers, and the CEO of any company that Dick Cheney has been associated with. After watching the way they are getting away with ripping off everyone else and being rewarded for it instead of punished, I would not have the slightest twinge of guilt.

I would have no fear of the government, the government only punishes pikers. E.G. 15 years for stealing $100 (new window) If you steal $50 Billion like Madoff, you are confined to your multi-million dollar residence (Can I be "punished" like this? I'll bet numerous people who have just been evicted from their homes would volunteer for such "punishment")

gadian

2009-01-17 3:51:11 AM

Meh, this guy is complaining about the salt in his drink on an island paradise somewhere. nonstory.

RogerWeaver

2009-01-17 3:55:12 AM

Here's the tally sheet I've been keeping:

1)Last week a German financier throws himself under a train

2)Bernard Madoff probably will be wearing an ankle tracking device at home. Sonja Kohn, a banker and a Madoff associate has now disappeared.

3)Marcus Schrencker, an Indiana businessman, tries to fake his own death and fails.

4)Sam Israel III, a hedge fund manager, tries to fake his own death: fails

5)Duwayne Woods, Floridian financier and developer: missing

6)Andrius Augunas of Rokas International, a developer in Michigan disappears and is missing and may be in Lithuania.

7)Arthur Nadel, hedge fund manager: missing

anarchy_x

2009-01-17 4:00:09 AM

OMFG
dude is 76
he split with like 350m
hahahaaha dude is in Bolivia doing huge amounts of blow off of many strippers asses!

what a genius idea "if they catch me, what are they gonna do...I'm farking 80"

ilikechocolatemilk

2009-01-17 4:16:36 AM

[image from craigslist.landofawz.com too old to be available]

Oh, Nadel...

/my bad

meathome

2009-01-17 4:41:42 AM

RogerWeaver: Here's the tally sheet I've been keeping:

1)Last week a German financier throws himself under a train

2)Bernard Madoff probably will be wearing an ankle tracking device at home. Sonja Kohn, a banker and a Madoff associate has now disappeared.

3)Marcus Schrencker, an Indiana businessman, tries to fake his own death and fails.

4)Sam Israel III, a hedge fund manager, tries to fake his own death: fails

5)Duwayne Woods, Floridian financier and developer: missing

6)Andrius Augunas of Rokas International, a developer in Michigan disappears and is missing and may be in Lithuania.

7)Arthur Nadel, hedge fund manager: missing

There's a guy in the Philadelphia area who just got caught doing the same thing (and attempting to flee). I believe it was in the 10s of millions range, so apparently it was only worthy of the local news. Another one a while back in Indiana had ruling that could effect the folks who didn't get totally screwed with Madoff.

You'll find that a lot of these funds were nothing more than slush funds for the managers and while most were just ponzi schemes, some were quite a bit more elaborate than others.

In a few weeks you'll hopefully be hearing about the number of concerns and allegations made to the SEC and feds about the rampant abuse going on in the industry, and how it was completely ignored.

That the SEC investigators (not the auditor, who was Madoff's son-in-law and opens another thread of discussion regarding conflict of interest) assigned to look into Madoff's dealings were predominantly surfing for pr0n, playing online games, etc. just says volumes about how serious the govt. takes the financial industry.

It's not a Bush/Clinton/Obama thing. We're finally reaping about 30-40 years of collective misuse of the system by the financial industry, and about the same level of incompetence and apathy from those who were supposed to make sure the system wasn't grossly abused.

Relatively Obscure

2009-01-17 4:45:30 AM

just2quixotic: I just wish I could think of a way of stealing hundreds of millions or even billions of dollars from bank CEOs, Oil company CEOs, Car company CEOs, arms manufacturing CEOs, hedge fund managers, and the CEO of any company that Dick Cheney has been associated with. After watching the way they are getting away with ripping off everyone else and being rewarded for it instead of punished, I would not have the slightest twinge of guilt.

I would have no fear of the government, the government only punishes pikers. E.G. 15 years for stealing $100 (new window) If you steal $50 Billion like Madoff, you are confined to your multi-million dollar residence (Can I be "punished" like this? I'll bet numerous people who have just been evicted from their homes would volunteer for such "punishment")

Being under house arrest is not his "punishment," as you put it. Because he has not been convicted of a crime, the government is not "punishing" him.

/Still, yeah. I'd prefer it a little bit if he were sittin' in solitary.

Occam's Chainsaw

2009-01-17 4:56:32 AM

Here's hoping these guys keep "disappearing" to the underside of a two-foot thick concrete pour, and not an unspecified tropical island.

/Yeah, I know, it's mostly the latter.
//But I can dream, can't I?
///What? That's a violation of the PATRIOT Act?
////WHEEE!! Slashies!

Justsaying

2009-01-17 5:03:40 AM

just2quixotic When you get that going count me in. I am firm believer in what goes around comes around.

Dragonsbreath

2009-01-17 5:05:46 AM

Correct me if I am wrong but wasn't the Clinton kid supposed to be working for a hedge fund while she was out playing vote for my mom? Or is that redundant?

bunner

2009-01-17 5:32:32 AM

What is it with ponderously decrepit, old white guys just grabbing everything they can get their hands on and running away, anymore?

Are they somehow better off for it?

Do they think it'll keep them alive and healthy as they slide into the inevitability of death from old age? Do they light cigars with 100.00 bills to impress gold digging slags in fancy country clubs?

It's my fondest hope that they are all found in a pool of their own runny shiat, clutching at their chests and with a hastily scribbled but legible password to whatever Swiss bank account they used to hide the money of the investors from whom they stole.

Krantzstone

2009-01-17 5:46:29 AM

bunner: What is it with ponderously decrepit, old white guys just grabbing everything they can get their hands on and running away, anymore?

Are they somehow better off for it?

Do they think it'll keep them alive and healthy as they slide into the inevitability of death from old age? Do they light cigars with 100.00 bills to impress gold digging slags in fancy country clubs?

It's my fondest hope that they are all found in a pool of their own runny shiat, clutching at their chests and with a hastily scribbled but legible password to whatever Swiss bank account they used to hide the money of the investors from whom they stole.

Unfortunately, they can now afford to have hot young slags wiping the runny shiat from their (I mean the old guys') asses with $100 bills of other people's money.

Damn, I wish I had that kind of total lack of ethical standards.

;P

just2quixotic

2009-01-17 5:48:14 AM

Justsaying: just2quixotic When you get that going count me in. I am firm believer in what goes around comes around.

____________________

Sure, got any relevant skills? Are you good at keeping two sets of books? Or perhaps you have some bribery skills (a surprisingly cheap and effective method of dealing with regulators and Congresscritters.) Better still, you wouldn't happen to be a lawyer would you? If so, you could start the paperwork incorporating us as a bank, and we could ask for bailout funds.

Send me your resume, and I will be more than happy to bring you on board. What the heck, if we are going to rip off Billions of dollars, there aught to be plenty to spread around. I am not nearly as greedy as these S.O.B.s who think they need Billions or even hundreds of millions. I think I will be quite content with a profit of $3 million after taxes. (See I learn from history, I will pay taxes on my ill gotten gains. If Al Capone had, the IRS would have left him alone and he probably would have lived out the rest of his life a free man. DON'T Fark with the IRS! Or its Canadian equivalent.)

Oldiron_79

2009-01-17 5:56:13 AM

Step 1) send your money to the Grand Caymens

step 2) fly to Brazil

Step 3) get Brazilian girl preggers and marry her.

Step 4) LOL at the fact you can't be extradited till your crotchfruit is 21.

Step 5) profit.

just2quixotic

2009-01-17 6:07:54 AM

Relatively Obscure: just2quixotic: I just wish I could think of a way of stealing hundreds of millions or even billions of dollars from bank CEOs, Oil company CEOs, Car company CEOs, arms manufacturing CEOs, hedge fund managers, and the CEO of any company that Dick Cheney has been associated with. After watching the way they are getting away with ripping off everyone else and being rewarded for it instead of punished, I would not have the slightest twinge of guilt.

I would have no fear of the government, the government only punishes pikers. E.G. 15 years for stealing $100 (new window) If you steal $50 Billion like Madoff, you are confined to your multi-million dollar residence (Can I be "punished" like this? I'll bet numerous people who have just been evicted from their homes would volunteer for such "punishment")

Being under house arrest is not his "punishment," as you put it. Because he has not been convicted of a crime, the government is not "punishing" him.

/Still, yeah. I'd prefer it a little bit if he were sittin' in solitary.

______________

Yeah, I know he has not been convicted yet and therefore should not be punished. But admitting that messes with my hyperbole.

That said, once investigators caught Madoff mailing off millions of dollars in jewelry in violation of the terms of his bail, the judge really should have revoked his bond. Had you or I done something even a little bit hinky while out on bond, you can bet the presiding judge would have tossed our butts in the klink so hard and fast we would have bounced.

/anyone know what Madoff's bond was?
//I doubt it was anything near enough to prevent him from taking off if he decides to flee. I know I wouldn't hesitate to abandon a $100 million bond if I were making off with what was left of the $50 Billion.
///Step one: Set up huge Ponzi scheme & stash proceeds in anonymous
numbered bank accounts
Step two: after getting caught, abandon multi-million bond, fake
death, acquire new identity & flee to a Caribbean paradise.
Step three: Profit!

Delay

2009-01-17 6:16:22 AM

8) Marc Dreier: $380 million hedge fund fraud, he's in jail but wants bail soon. He needs to play with his 2007 Aston Martin DB9 Volante, 2006 BMW 650i convertible, 2000 Mercedes Benz S500 Sedan and 1997 Mercedes Benz SL500 Roadster. Marc also needs to make sure his New York City apartment on E. 58th street, his three homes in the Hamptons and his Caribbean condos are kept up.

PunGent

2009-01-17 6:17:01 AM

Dragonsbreath, you're right, looks like a vulture fund:

http://en.wikipedia.org/wiki/Avenue_Capital_Group

Not that there's anything inherently wrong with vultures, vital part of the ecosystem, etc, etc...

Maudite

2009-01-17 8:04:53 AM

They need to seize his everything. Anything he can be traced to including gifts he has given to others. Houses, cars, bank accounts, his wife's wedding ring. They need to toss her ass out in the street.

jafiwam

2009-01-17 8:48:44 AM

Hmm. Sounds like there is a market out there for a high-end "fake death consultancy" company.

Who's with me?

/For an extra price, it won't be fake.

Jacobin

2009-01-17 8:57:03 AM

In the good old days, these people did the right thing and just jumped off a tall building. While it did leave a sort of bloody, gooey mess on the sidewalk, it could be cleaned up easily and the public could get some satisfaction in seeing the bloody spot on the sidewalk.

Kar98

2009-01-17 8:58:33 AM

OMG it's the beginning of a new holocaust!

Strega

2009-01-17 8:59:25 AM

Well, he's either in Cancun or he's on his way through an alligator's intestinal tract. Hopefully the latter.

Suede head

2009-01-17 9:08:08 AM

Is he another Joooo?

bigredkrzy

2009-01-17 9:14:26 AM

My ring finger is longer than my index finger, so I am getting a kick out of all these replies.

/still broke though

Shatnerfreude

2009-01-17 9:49:05 AM

ilikechocolatemilk: Oh, Nadel...

/my bad

I tip my 80s fedora to you, sir. Well played.

/And a strangely apt reference since most of these hedge fund scumbags will probably end up dancing on the sand.

BalugaJoe

2009-01-17 10:37:00 AM

Bush lets people steal money.

namegoeshere

2009-01-17 11:03:31 AM

Delay: RogerWeaver: Here's the tally sheet I've been keeping:

1)Last week a German financier throws himself under a train

2)Bernard Madoff probably will be wearing an ankle tracking device at home. Sonja Kohn, a banker and a Madoff associate has now disappeared.

3)Marcus Schrencker, an Indiana businessman, tries to fake his own death and fails.

4)Sam Israel III, a hedge fund manager, tries to fake his own death: fails

5)Duwayne Woods, Floridian financier and developer: missing

6)Andrius Augunas of Rokas International, a developer in Michigan disappears and is missing and may be in Lithuania.

7)Arthur Nadel, hedge fund manager: missing

8) Marc Dreier: $380 million hedge fund fraud, he's in jail but wants bail soon. He needs to play with his 2007 Aston Martin DB9 Volante, 2006 BMW 650i convertible, 2000 Mercedes Benz S500 Sedan and 1997 Mercedes Benz SL500 Roadster. Marc also needs to make sure his New York City apartment on E. 58th street, his three homes in the Hamptons and his Caribbean condos are kept up.

This is getting pretty lulzy.

You know, except for the innocent people who lost everything, that is.

Damn, I really, really wish I believed in an Eternal Firey Hell. There would be a special circle just for this.

Aulus

2009-01-17 12:28:05 PM

Juc: I hope someone is disappearing those guys rather than them running away.
It's probably the only chance of there being justice with these white collar thieves.

Unavailable for comment.

/hotlinked like a mofo

waitwhat

2009-01-17 1:03:50 PM

"Today's hedge-fund manager disappearing after losing $350 million is... Arthur Nadel"

The word "losing" should be in quotes. Arthur knows exactly where that money is. Its not like he misplaced it. Just like he didnt "disappear"..... he knows where he is.

GoodasGold

2009-01-17 1:13:45 PM

waitwhat: "Today's hedge-fund manager disappearing after losing $350 million is... Arthur Nadel"

The word "losing" should be in quotes. Arthur knows exactly where that money is. Its not like he misplaced it. Just like he didnt "disappear"..... he knows where he is.

right

rahpower

2009-01-17 1:25:54 PM

Delay, the Marc Dreier scandal wasn't a hedge fund fraud exactly. The fraud was in ripping off hedge funds. Dreier was an attorney selling bogus notes and raiding his client trust accounts.

GoodasGold

2009-01-17 1:38:05 PM

Marc Dreier, like Nadel and Madoff is one too.

Old saying:
"If it is a few hundred thousand it could be anybody. If it is a few hundred million it could only be a Jew."

x76

2009-01-17 2:14:41 PM

Another member of The Tribe or not? Of COURSE I'm not supposed to ask such a heinous, racist, anti-Semitic question. So, was he another Jew?

How much money did he route to Israel, never to be seen again, Madoff-like?

Wake up and smell the kreplach, boys.

Oznog

2009-01-17 2:21:08 PM

Your hedges. They have been pruned.

just2quixotic

2009-01-17 3:04:54 PM

BalugaJoe: Bush ~~lets people steal money~~ encourages theft.

/FTFY

NewportBarGuy

2009-01-17 3:22:49 PM

just2quixotic: BalugaJoe: Bush lets people steal money encourages theft.

/FTFY

It's not theft. It's asset reallocation.

Or when we stole military vehicles from other units to do training: "We didn't steal it, we relocated it."

meathome

2009-01-17 3:40:05 PM

Hey, let's add another one to the list.

Link

NYZooMan

2009-01-17 4:22:30 PM

It's a culture of fraud, where even the accepted legal means are a mere razor's edge away from outright fraud.

Funny to watch all the 'finance escapees' turning to lives of painting, writing and woodworking in a feeble attempt to reclaim their long sold souls.

namegoeshere

2009-01-17 6:58:17 PM

If certain Eastern religions are correct, there will be a substantial increase in the sewer rat population in the next generation.

Bea Arthur Jr.

2009-01-17 10:57:33 PM

GoodasGold: "If it is a few hundred thousand it could be anybody. If it is a few hundred million it could only be a Jew."

I've only been on Fark a week, but I've already noticed you only show up in threads to talk about Jews.

Did the Jews, like, rape you?

Catran

2009-01-18 2:24:36 AM

hillary: I would comment, but the last time Nadel and I got into it, he accused me of hacking after I posted an email to a web site, an email that he wrote that was forwarded to half the state. Not kidding. Judge was not amused at Nadel. Dear Art: go fark yourself, wherever you are.

I would be very interested in seeing that email.

sunsawed

2009-01-18 3:00:53 AM

2000 Zero Zero party over it's out of time...

Tonight we're gonna party like it's 1929!

/Dontcha wanna go???

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