The family of Arthur Nadel, the missing Florida hedge fund manager accused of duping investors of millions of dollars, is anxious about his whereabouts, more so since the note he left said that he was "distraught."

Nadel, the proprietor of Scoop Management Inc. in Sarasota, has been missing since Wednesday morning, and later that day, his wife reported him missing. The contents of the note that he left for his family have not been disclosed either by his wife, Peg Nadel or the authorities.

The Sarasota-Herald Tribune reports said that Nadel was a well-known personality in the social as well as charitable circles of the beach town along the central Gulf Coast.

While the search for the 75-year-old Nadel is on, even his investment company is under investigation by the police, as the alleged deception is said to have involved "a very significant amount of money."

According to the Sarasota Police Captain Bill Spitler, "It was brought to our attention that there have been a very significant number of victims with a very significant amount of money that has disappeared. Allegedly it's hundreds of millions of dollars." From individual investors to the local YMCA Foundation - client range was fairly wide!

Spitler said that though it was too early to mention the exact figures about the amounts invested, the authorities' initial interviews with investors and a look into claims revealed that Nadel swindled hedge funds to the tune of $350 million!