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Nadel Probably Not Flying Free

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Well, they sure figured out how to avoid getting White Collar Criminal friendly Sarasota involved in the prosecution of accused fraudster Arthur Nadel. They charged him in New York as he traded through a brokerage in the city. Woops. And while we are at it, we'll note that it looks unlikely that he is going to be able to swing penthouse arrest.

A U.S. judge set a $5 million bond, house detention and other conditions of bail on Wednesday for accused hedge fund manager Arthur Nadel, who authorities say was on the run for two weeks in January before the FBI arrested him.
Nadel's lawyer indicated that his client will not be able to meet the conditions of release set by Judge Denise Cote at a hearing in U.S. District Court in Manhattan.

U.S. judge sets bail conditions for fund manager Nadel [Reuters]