‘Mini Madoff’ Gets 14-Year Sentence, Is Called a Loser

Arthur Nadel, a Ponzi-scheming asset manager who came to be known as “Mini-Madoff” for perpetrating a $16 billion fraud, was sentenced on Thursday to 14 years in prison, Reuters reports.

The indignity of starting a decade-plus stint in the pen at the ripe old age of 77 was supplemented by a round of no-holds-barred hectoring by his victims during the sentencing phase of his trial. Various people called him “evil,” a “loser,” a “narcissistic psychopath” and a “weak child.”

After the fraud charges came to light, Nadel left a suicide note and was reported missing by his fifth wife. He’d left her a note instructing her to withdraw as much cash as she could and to “sell the Subaru” if she needed more money. After a two-week disappearance, he was arrested by the FBI in January of 2009.

mtaylor [at] observer.com | @mbrookstaylor ‘Mini Madoff’ Gets 14-Year Sentence, Is Called a Loser