SEC, FBI on trail of vanished hedger

The mysterious disappearance of a Florida hedge fund manager five days ago has prompted the Federal Bureau of Investigation and the Securities and Exchange Commission to join the investigation, published reports said. The FBI and SEC are assisting Florida police in the search for Arthur Nadel, president of Sarasota, Fla.-based Scoop Management Inc., whose Jan. 14 disappearance has sparked complaints from investors fearful that the investment manager took off with their money. Investors in Scoop may have lost as much as $350 million in assets, authorities said. Neil Moody, the missing money manager’s business partner, said in published reports that Mr. Nadel has spoken to his wife since he was reported missing. Mr. Nadel’s car was spotted on Jan. 15 at the Sarasota-Bradenton International Airport. Sarasota County Sheriff’s Office spokesman Lt. Chuck Lesaltato said that the investigation was ongoing and that he could not comment on whether Mr. Nadel had left Florida or the United States. The FBI and SEC, both based in Washington, did not immediately return calls seeking comment.