Nadel Investor to Return Money

A trust that pocketed just over $300,000 in false profits -- payouts that exceeded the original investment -- has volunteered to return 90% of the money in an agreement with a court-appointed receiver.

Unable to post $5 million bail, Nadel, 76, is awaiting indictment in the Metropolitan Correctional Center in New York City. He faces up to 40 years in prison if convicted on federal securities fraud and wire fraud charges.

more at

http://www.heraldtribune.com/article/20090424/ARTICLE/904241025/2055/NEWS?Title=Nadel-investor-to-return-money