Arthur Nadel ran something called Scoop Management in Sarasota, but had run afoul of his investors, some of whom thought he defrauded them. Nadel was last seen Wednesday morning by his wife. She reported him missing later that day. According to the AP, Nadel, 75, left a note for his family that was said to indicate a "distraught" mind.

Scoop was said to have served as a trader/advisor type for hedge funds worth $350 million collectively. As in the Madoff scandal, people feel cheated and scammed. Hopefully, Nadel will turn up unharmed soon to take account for himself and the funds. The Sarasota's Sheriff's office has spoken with a number of alleged victims. He says he knows some personally and has no reason to think any are lying.

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