Art Nadel, a hedge-fund manager who oversees Valhalla Investment Funds, is missing, along with a whole lot of his investors’ assets.

art nadel

Art Nadel With Wife Peg Nadel

In what is becoming a sign of the times, Art Nadel, a money manager with the Sarasota-based investment management company Scoop Management Inc., which oversees funds of Valhalla Investment Partners, has been reported missing by his wife Peg Nadel on Friday. As reported by CNBC, Sarasota police are currently investigating the whereabouts of Art Nadel, who is 76-years-old. Reportedly, he left a farewell note at his home, and was last seen by his wife early on Friday morning.

On related note, Sarasota police are also looking into the possibility that millions of dollars of assets that were entrusted to Art Nadel by his clients may now be lost. It is currently not clear whether Art Nadel fled with his investors’ money. As reported by Bloomberg, as much as $350 million may be in jeopardy.

Nadel is a graduate of New York University Law School and worked as a real estate developer before becoming a money manager.

Nadel is the second prominent money manager in a week to go missing in this troubled economy. As we reported here, Marcus Schrenker of Heritage Wealth Management faked his death in a plane crash, and then was taken into police custody after what appears to be an attempted suicide. He reportedly was fleeing financial and legal troubles at his company.

This may be the beginning of a very tragic trend. If millionaires are running away because they see no hope, what are the rest of us supposed to do?