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Byline: JOHN HIELSCHER, ANTHONY CORMIER and MICHAEL POLLICK STAFF WRITERS
The FBI, the U.S. Securities and Exchange Commission and a court-appointed receiver continue to investigate Nadel and his six hedge funds, which contain only a fraction of the $342 million he claimed they were worth.
The 76-year-old Nadel, known in Sarasota's business and social circles as "Art," was arrested Tuesday and charged with two federal counts of securities fraud and wire fraud. He goes before a federal judge Friday in hopes of being released on bond.
Law enforcement sources close to the investigation said Wednesday that it was almost certain that Nadel would face …