Arthur NadelHedge fund manager Arthur Nadel, dubbed the "mini-Madoff", was sentenced to 168 months in jail after being found guilty of embezzling millions of dollars in a Ponzi scheme.

The sentence is one month in jail for every $1 million he embezzled.

Nadel, 77, was found guilty of cheating elderly retirees out of their money, The New York Daily News said. He was convicted of securities, mail and wire fraud.

"Arthur, you are an evil person," said Michael Sullivan, a retired manufacturer who lost $2 million with Nadel. "Now you must pay - you've been in prison and you will continue for the rest of your wretched life."

Nadel's lawyer had asked for a sentence of no more than five years, saying that a longer stint in jail would effectively be a death sentence.

Nadel may actually end up joining Bernard Madoff in the Butner Federal Correctional Complex in North Carolina.

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Fred

Sooooooooooooooooooo,,,Crime does pay,,,,,,,,,,somebody in his family will end up wealthy because of his evil ways.

October 25 2010 at 6:42 PM Report abuse rate up rate down Reply
nmeek48409

Does anyone know why the FEDs are not going after Robert Grigger Jones and Kelly Gearhart for their ponzi scheme in Central California Someone needs to see why the FBI field agent in Santa Maria isn't moving on this HELP We were stung by the attorney when he tried to steal money from our father's estate and forged documents HELP http://youtube.com/watch?v=d_PiKumEPVU

October 25 2010 at 5:01 PM Report abuse rate up rate down Reply
1 reply to nmeek48409's comment
SCOTT FRESH FOOD

cry cry cry cry cry......nark nark nark nark..... wow its the american way cry baby america. i am so glad i gave up being an american it feels so good to live in manila and get away with things like get mad at some body just punch them in the face and pay the cops off 5000.00 pesos much better than america at least in manila bribes and cops are better tahn horse **** usa cops in manila are the best

October 25 2010 at 9:02 PM Report abuse rate up rate down Reply
M

one month for every million? geeeee i'll do a month for a million!

October 25 2010 at 4:37 PM Report abuse +1 rate up rate down Reply
BIG POPPY

that sentence is a mockery, so long as a man robbing a bank with a gun, of several hundred dollars goes away for 15-20 years...

October 25 2010 at 4:13 PM Report abuse +2 rate up rate down Reply
AltamonteSprings

WOW ONE MONTH IN JAIL FOR EACH MILLION DOLLARS HE STOLE ! REALLY SOUNDS LIKE THE PUNISHMENT FITS THE CRIME ! WHAT A JOKE AT ANY AGE. SO UNLESS SOMEONE HAS A HEALTHY FEAR OF GOD KNOWING THAT WE WILL REAP WHAT WE SOW, WEATHER GOOD OR BAD WHY WOULD THEY NOT STEAL? ESPECIALLY IF THEY COULD GET 1 MILLION DOLLARS AND ONLY HAVE TO SPEND 1 MONTH IN JAIL FOR IT. IS THIS WHAT THEY CALL JUSTICE ? GOD HELP US PLEASE.

October 25 2010 at 6:08 AM Report abuse +5 rate up rate down Reply
1 reply to AltamonteSprings's comment
SCOTT FRESH FOOD

all people from florida should get 22 months for each 1 million they steal cause all floridians are nasty back stabbers

October 25 2010 at 9:00 PM Report abuse -1 rate up rate down Reply
sbhome1020

Really? Who cares about these scumbags. Let them die in a maximum security prison.

October 23 2010 at 9:18 PM Report abuse -1 rate up rate down Reply
Bobby

Time to bring back public flogging pain, is a great deterrent to crime!

October 23 2010 at 7:56 PM Report abuse +4 rate up rate down Reply
lv2breathe

Laddagokid...I truly don't understand your thinking. People who invest are not greedy! Did you know scam artists hurt people from every income group? From the poor to the rich...it's all wrong, I dont' care if you have money or not. Just wait until it happens to you then you will understand how wrong it is.

October 23 2010 at 7:37 PM Report abuse +6 rate up rate down Reply
laddagokid

do I fell sorry for these's idiots that lose their money.No I do not.They are just as greedy as the guy is who is taking their money.They want more,so that set's the train in motion.They should think twice.

October 23 2010 at 7:01 PM Report abuse -3 rate up rate down Reply
Colin Janus

But Republicans will still give him a tax break.

October 23 2010 at 6:35 PM Report abuse -2 rate up rate down Reply
1 reply to Colin Janus's comment
ibe1grump

Perhaps on the money left over after the Dumbos tax the S**t out him

October 23 2010 at 7:26 PM Report abuse rate up rate down Reply