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Chris Moody, once one of the rising stars of Sarasota's money-management community, has taken on a much lower profile since his onetime business partner, Arthur Nadel, was arrested on charges that he allegedly bilked hundreds of investors out of more than $300 million.
For good reason, too. The investigation into the alleged investment scam is ongoing, and Nadel's attorneys recently argued in federal court filings that Moody and his father, Neil Moody, might be more culpable in the scam than once thought.
At the same time, the court-appointed receiver in the scheme said in a recent report “the Moodys have received millions of dollars as a result of their efforts and participation in Nadel's activities.” The receiver said he is preparing to institute legal action against the Moodys to recover the money and assets acquired with the money.
The younger Moody and their attorney continue to assert no involvement in the alleged Ponzi scheme, which came to light in January. Said the younger Moody in a text message this week: “We are cooperating with the authorities and the receiver. We had no knowledge of Art's actions, and they know that.”
But Chris Moody's avoidance of the limelight apparently doesn't include refraining from posting pictures and nuggets about his life on Facebook. Moody's pages on the Web site, seen by Coffee Talk, include a half-dozen pictures Moody posted from a recent tarpon fishing trip in the waters off Siesta Key.
The photos were added June 8, according to the Web site, and Moody in one photo is smiling while he and a friend are holding a fish. Moody, on another page on the site, also says he will be attending an upcoming event at a Four Seasons hotel in Texas.
The images in the photos on Facebook contrast from the life Moody's attorney says his client has been living since Nadel's Jan. 27 arrest. The attorney, Tampa-based David Knight, disputes any assertion that Moody is lounging around or living the jet-set life while Nadel's alleged victims deal with their losses.
“This case has had an enormous adverse financial impact on Chris Moody,” says Knight. “His life has changed.”
Specifically, Knight says, Moody spends most of his days assembling paperwork for the ongoing investigation. Moody hasn't obtained another job, says Knight, and his only other daily task is picking up his kids from school.
Knight, who is serving as a spokesman for the Moody family, says he wasn't aware of the Facebook postings prior to being contacted by Coffee Talk. But after speaking with Moody about the postings, Knight says, the event his client responded to in Texas isn't until October, and Moody realizes his financial picture then will dictate whether he will be able to attend it.
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