Missing US fund manager arrested

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An American fund manager reported missing by his family a fortnight ago has been arrested, FBI agents say.

Arthur Nadel faces fraud charges in a Manhattan court after he was arrested in Tampa, Florida.

His wife had reported him missing from his Florida home, saying he sounded distraught when he last spoke to his family on 14 January.

Police said they were investigating his investment company after clients complained of missing funds.

Mr Nadel was charged with securities fraud and wire fraud related to his funds from around 2004 until at least 14 January, 2009.

US investors have been hit by plunging values in some hedge funds, and concerns about a major alleged fraud - not linked to Mr Nadel's company.