Tonight's "American Greed" will profile convicted Ponzi schemer
Arthur Nadel in a special episode entitled "The Wizard of Sarasota."
The Nadel episode will be the 49th episode of CNBC's original primetime
series dedicated to examining "the dark side of the American dream,"
and will likely examine the events leading up to the scheme's collapse,
as well as the scheme itself. A brief synopsis on the show's website
states: "Arthur Nadel conjures a $330 million
hedge fund. In the blink of an eye, he disappears and leaves clients without their
Nadel, known in some circles as a "mini-Madoff," pled guilty
in 2010 to 15 federal fraud counts, including six counts of securities
fraud ("Arthur Nadel pleads guilty to
Ponzi scheme," Herald Tribune, Feb. 25, 2010). He also admitted to orchestrating
a nine-year-long, multi-million-dollar Ponzi scheme, which cost hundreds
of investors approximately $162 million in losses when it collapsed in
January of 2009. He is currently serving a 14-year prison sentence.
"The Wizard of Sarasota" is scheduled for Wednesday, April 27,
at 10 p.m. EST. It will re-air on Saturday at 8 p.m., Sunday at midnight,
and May 4 at 9 p.m. For additional details, visit the "American Greed"