Dealbreaker reports that Art Nadel, Ponzi artist wannabe, has surrendered to the cops in Tampa. This was the old guy (but still 8 years younger than his mentor, Walter Noel) who skipped out when it was discovered he was shy about $350 million (or $750 milion – who keeps track these days?) from the assets he was supposed to be managing. Ironicall, he, like Walter Noel, may have been a Madoff victim because after years of benign neglect from his investors, a couple of them grew worried when Bernie was exposed as a fraud and decided to finally perform an audit of Nadel’s books. He fled the next day.
Tip for fraudsters – always have a get away plan, damn it! If you’re going to steal, at least consider the possibility that you might get caught and do a little advance planning. I’ll bet Bernie did, and at least his money escaped.