Wife of Nadel’s Business Partner Surrenders Property as Settlement
Sharon Carter, formerly married to Neil Moody, has surrendered in excess of $1.1 million in property to try and settle her case against Nadel’s receiver. Moody was a business partner with ponzi-schemer Art Nadel. The $1.1 million, however, falls well short of the nearly $4 million the receiver claimed was transferred to Carter and her revocable trust via distributions and profits. While the receiver paints Carter as someone who profited from the scheme, Carter paints herself as a victim. She claims to have lost all of her money in one of Nadel’s hedge funds, and she is now living off of Social Security. Her divorce from Moody was finalized this year.
At the top of the list of property surrendered is her Colorado home, which she owned prior to her marriage to Moody but made significant improvements with her ex-husband’s money. An appraisal indicated between $450,000 and $500,000 in equity. The house is located in Evergreen, Colorado, in an exclusive foothills development. Another $350,000 will come from furniture, jewelry antiques and other personal property. Another $300,000 derives from the assignment of tax refunds Carter may claim from her investment in the hedge funds. A final $39,000 will be paid in cash.