Introduction
Welcome to the website of Receiver, Burton W. Wiand. Mr. Wiand has been appointed Receiver in the case of Securities and Exchange Commission, Plaintiff, v. Arthur Nadel, Scoop Capital, LLC, Scoop Management, Inc., Defendants, and Scoop Real Estate, L.P., Valhalla Investment Partners, L.P., Valhalla Management, Inc., Victory IRA Fund, Ltd, Victory Fund, Ltd, Viking IRA Fund, LLC, Viking Fund, LLC, and Viking Management, LLC, Relief Defendants, Case No. 8:09-cv-87-T-26TBM in the United States District Court for the Middle District of Florida, Tampa Division.
This website is designed to provide convenient access to information about the Receivership, including important updates and District Court documents. If you require further information not contained in this website, you may contact the Receiver’s attorneys at Guerra & Partners, P.A. by email to receivershipclaims@guerrapartners.law.
Brief Summary of the Case
The SEC alleges that Arthur Nadel defrauded investors in six hedge funds (Scoop Real Estate, L.P., Valhalla Investment Partners, L.P., Victory IRA Fund, Ltd, Victory Fund, Ltd, Viking IRA Fund, LLC, and Viking Fund, LLC) by massively overstating the value of investments in these funds and issuing false and misleading account statements to investors. Mr. Nadel operated this scheme through a number of different entities, including Scoop Capital, LLC, Scoop Management, Inc., Valhalla Management, Inc., and Viking Management, LLC. The SEC also alleges that Mr. Nadel transferred large sums of investor funds to secret accounts which only he controlled.
Where, as in this case, the SEC seeks the return of funds to investors, the SEC frequently pursues the appointment of a receiver to assist in marshalling assets on behalf of injured investors. SEC-initiated receiverships frequently arise in connection with alleged fraudulent investment schemes.
The District Court entered an Order on January 21, 2009, appointing Mr. Wiand as Receiver. The Court directed the Receiver to (i) administer and manage the business affairs, funds, assets, and any other property of the Defendants and Relief Defendants; (ii) marshal and safeguard the assets of the Defendants and Relief Defendants; (iii) investigate the manner in which the affairs of the Defendants and Relief Defendants were conducted and institute such legal proceedings for the benefit of the Defendants and Relief Defendants and their investors and creditors as the Receiver deems necessary and (iv) take whatever actions are necessary for the protection of the investors. We intend to fulfill our duties and responsibilities as Receiver in an expedient and efficient manner. The District Court overseeing this receivership has broad powers and wide discretion to determine the appropriate relief.
This site contains links to copies of various court documents regarding this receivership. You will need Adobe Acrobat Reader to view these documents.