Another Philanthropist Hedge Fund Manager Absconds?

There are reports that Arthur Nadel, a hedge fund manager and philanthropist, disappeared with up to $350 million of his clients’ money.

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A blogger (Libertarian Republican) reports that Nadel favored liberal causes but I can’t find much to back up that claim. (See below.) Nadel is president of the Guy-Nadel Foundation of Sarasota, Florida. The charity had assets of $3.4 million in tax year 2006. It has given money largely to arts groups, church groups, and gave a $50,000 grant to Habitat for Humanity in 2006 (which is a liberal housing advocacy group but not a terribly in-your-face one like ACORN or La Raza). Perhaps Nadel could be considered a mini Madoff.

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