- March 28, 2024
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Coffee Talk hears that Chris Moody, a onetime business partner of jailed Sarasota financier Arthur Nadel, is officially leaving town.
Moody and his father, Neil Moody, had been at the forefront of local investment firms with Nadel, who currently faces federal fraud charges in an alleged Ponzi scheme where hundreds of investors were bilked out of $400 million. The Moodys haven't been charged criminally in the case, although both father and son recently reached a settlement agreement with the U.S. Securities and Exchange Commission in which the pair neither admitted nor denied securities fraud charges brought by the agency.
As part of that agreement, the Moodys are banned from working in the investment advisement field for five years. The agreement doesn't specify where the family can live, but Coffee Talk hears Chris Moody and his wife Tamara have moved to Mississippi, where Tamara Moody was raised.
A New York-based spokesman for the Moody's declined to comment on the family's whereabouts or even if they do plan a move. But a few neighbors who live near the couple in Sarasota say a “going away” party was planned for the Moodys for Jan. 21.
Nadel, meanwhile, remains in federal prison pending his trial, which could begin later this year.