Busted

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We are annoyed that more white collar criminals have not been reading the first part of the Dealbreaker guide: How To Properly Escape Capture Following Your Massive (or Relatively Massive) Financial Fraud. The latest slacker is Arthur Nadel, the Sarasota "hedge fund adviser" who skipped out with such ninja-like disappearing skills that the local constabulary decided to give up the chase when it was clear that he "did not want to be found." Those skills apparently were insufficiently honed to carry him in the big leagues, as he surrendered to the FBI in Tampa earlier today. (Florida is an interesting choice as his green Subaru was found in the airport parking lot- we were not fooled by the "park the car in the airport and take no flight" trick).
Bloomberg hints that Madoff, and the attention to scandal around it, may have indirectly contributed to the discovery:

The fraud may have been uncovered because of the unrelated arrest on Dec. 11 of fund manager Bernard Madoff for duping investors out of $50 billion, the FBI said in a criminal complaint.
After years of rebuffing requests from an unnamed partner for an independent audit of his funds, Nadel agreed to one on Jan. 8, FBI agent Kevin Riordan said in a criminal complaint. Nadel fled six days later after telling his wife how to survive financially without him, Riordan said.

Ah yes, the dreaded "independent audit."

Nadel, Missing Hedge Fund Adviser, Arrested by FBI
[Bloomberg]

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