New York (HedgeCo.net) – Florida hedge fund manager Arthur Nadel was sentenced to 14 years at the same prison where Bernie Madoff is serving his 150 year sentence.

Nadel’s lawyer argued for five years because of his client’s heart condition, while the prosecution pushed for 20 to 25 years. The Judge settledvon 14 years, ordering the hedge fund manager to surrenderer his five planes, a helicopter and more than $160 million in restitution. The “Mini-Madoff” is accused of cheating investors of more than $168 million.

“I blame no one but myself for my actions. I’m my own worst enemy,” Nadel told Judge John Koeltl. “In effect, I’ve thrown everything worth living for away.” ABC news reported.

Alex Akesson
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