April 28 (Bloomberg) -- Jailed hedge-fund adviser Arthur Nadel now faces a 15-count federal indictment that accuses him of securities fraud, wire fraud and mail fraud.

The indictment was unsealed today in Manhattan federal court. Prosecutors also are seeking to force Nadel to forfeit $360 million and property.

Nadel, a money manager and founder of Scoop Management Inc. in Sarasota, Florida, disappeared for two weeks in January after Florida authorities began investigating investor complaints about missing money. He was charged Jan. 21 in federal court in New York with securities and mail fraud. Nadel, 76, surrendered six days later in Tampa and was transferred to Manhattan.

At least 350 investors in Nadel’s funds were told they had more than $360 million in their accounts when there was less than $125,000, prosecutors say. Assistant U.S. Attorney Maria Douvas said in court in February that Nadel took in $63.9 million in fees and trading profits in recent years, including $45 million from 2005 to 2007.

Nadel told clients “that his purchases and sales of securities in funds had generated cumulatively more than $271 million in gains,” Acting U.S. Attorney Lev Dassin said in a statement today. “In truth, Nadel’s trading resulted in an overall net loss.”

Plead Innocent

Defense attorney Mark Gombiner said Nadel will plead not guilty. Gombiner, a public defender, was appointed by a judge this month after Nadel’s assets were frozen in a related case brought by the U.S. Securities and Exchange Commission.

“This is a much more complicated case than is portrayed in the indictment or so far in the press,” he said in an interview. “That will become apparent as the case goes along.”

The indictment, which marks the formal filing of charges, includes six counts of securities fraud, eight counts of wire fraud and one count of mail fraud. Nadel faces a maximum 280 years in prison if convicted.

Receiver Burton Wiand said this month that investors lost as much as $168 million in Nadel’s fund.

The criminal case is U.S. v. Nadel, 1:09-mj-00169, U.S. District Court, Southern District of New York (Manhattan).

To contact the reporter on this story: David Glovin in U.S. District Court in New York at dglovin@bloomberg.net.

Last Updated: April 28, 2009 17:44 EDT