Florida fund manager Arthur Nadel, whose family reported him missing in early January, was arrested on Tuesday on criminal charges of securities fraud, U.S. officials said.
New York FBI spokeswoman Monica McLean said Nadel -- head of Scoop Management, overseeing six hedge funds he had valued at more than $300 million -- would make an initial appearance in a federal court in Florida.
"Arthur Nadel surrendered in the company of two lawyers to FBI agents in Tampa," McLean said.
In a criminal complaint filed in U.S. District Court in Manhattan, Nadel was charged with securities fraud and wire fraud related to his funds from around 2004 until at least January 14 this year.
The court document contains excerpts of a handwritten letter from Nadel, 76, to his wife. It says the letter was found by Scoop employees in an office shredding machine.
"The avenues to money for you will likely be blocked soon," the letter quoted in an affidavit by FBI agent Kevin Riordan said. "You must use the trust (yours) to your benefit as much and as soon as possible."
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