Florida Fund Manager Art Nadel Reported Missing

Art Nadel (far right) and his wife Peg out on the town

Another money manager is in the news. Art Nadel, who works for Sarasota-based Valhalla Management is missing. Geez, I wonder what could have happened to him? Maybe he's pulling another stunt like Marcus Schrenker or Sonya Kohn, who has still not been seen anywhere. Folks, this is about to blow up. Sarasota police has reportedly confirmed to CNBC that they are in the early stages of a large-scale probe of theft of invested assets. Media report says that millions of dollars, to the tune of $350 million, are missing and it is unclear if any will be recovered. What we have here is a Mini-Bernard Madoff case in the making.

Nadel's wife, Peg, confirmed he is missing after finding a suicide note, but would not say for how long. She called it a "sad situation" and said she is cooperating with the police who were in her home at the time CNBC spoke with her. Yeah, she knows exactly what his problem is.

The police would not say if Mr. Nadel is a suspect in the theft or provide any other details about their investigation. This is developing and there will be more to come.

Read more about Art Nadel, CLICK HERE.