Nadel, in need of an attorney, granted continuance
March 31st, 2009 joshua
Alleged Ponzi scheme ringmaster Arthur Nadel has been granted a 30-day continuance by a federal judge in New York.
Behind tens of thousands of dollars in legal bills, Nadel needs a new attorney after his last team could not get his frozen assets in a state where he could make those payments on his bill in arrears.
The 30-day continuance on criminal charges of securities and mail fraud will give the former Sarasota, Fla., hedge fund manager time to seek proper counsel before facing these charges which will likely send him to prison for the rest of his life.
Nadel has been in prison since Jan. 27 after he re-surfaced in the arms of authorities following two weeks on the lam.
