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SARASOTA — Victims of Arthur Nadel's multi-million dollar Ponzi scheme had slightly more than $1 million added to the pool of receivership funds being put together by attorney Burton Wiand today.
Nadel was sentenced to 14 years in prison last October for causing $162 million in damage to hundreds of Floridians.
The James River Diversified Fund LP, the James River Multi-Strategy Fund LP, and Paul Saunders, the funds' manager, will pay a combined $1.07 million in settlement funds, representing the total alleged profits earned from working with Nadel.
Wiand has recovered roughly $15 million in payouts from former Nadel clients to date.
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