A Florida hedge fund manager has gone missing after being accused of defrauding investors of millions. While it is too soon to know the exact value of the alleged fraud, Arthur Nadel managed a fund that may have been worth as much as $350 million, most of which has been lost. (Associated Press)
Another “oops” at Gitmo, where Haji Bismullah became the latest detainee to be released after being deemed no longer an “enemy combatant.” Bismullah was released after a military panel seemed to acknowledge a mistake of grand proportions. (New York Times)
The Government Accountability Office released a report finding that 83 of the nation’s 100 largest corporations maintain subsidiaries in offshore tax havens. Among these 83 companies were several, including General Motors and AIG, currently receiving bailout money. (Associated Press)
An investigation lead by Sen. Chuck Grassley (R-IA) found that a researcher with the University of Wisconsin received $19 million from a medical device corporation while helping develop new products. (Wall Street Journal)
A former Oklahoma sheriff was convicted on Saturday of 13 felonies, including second degree rape and bribery by a public official. Mike Burgess was found guilty of using his position as a member of a team controlling a drug court in Custer County, Okla., to sexually coerce female prisoners and defendants. The jury recommended a sentence of 94 years. (Associated Press)
A report issued by the Government Accountability Office found that most medical devices have never been shown to be safe or effective by the Food and Drug Administration. The new report comes on the tails of a letter sent by FDA scientists last week to President-elect Obama complaining of management problems at the agency. (New York Times)