Police Probe Fraud Claim, Missing Fund Leader

SARASOTA, Fla. (AP) - Florida authorities are investigating
claims that a hedge fund manager defrauded investors out of
millions and is now missing.

Sarasota Police Capt. Bill Spitler confirmed Saturday that
authorities were looking into claims that Arthur G. Nadel may have
stolen from his investors. Nadel's wife filed a missing person
report with police Wednesday.

Police say Nadel left a note for his family, but would not
divulge its contents, saying only that it showed he was distraught.

Peg Nadel said Saturday that she is cooperating with authorities
and investors, but would not go into any details.

There were reports that the hedge fund could be out some $350
million, but Spitler says it is too soon to say exactly how much
the fund was worth.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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