A big-time donor to Mayor de Blasio, expected to testify in an upcoming public corruption trial, is more deeply involved in criminal activity than the government lets on, new court papers claim.
A federal judge in Manhattan on Monday refused to dismiss fraud charges against a former Platinum Partners hedge fund executive and a former union leader for New York City prison guards, who claimed their indictment was based on illegal wiretaps.
Bill de Blasio donor Jona Rechnitz’s ties to accused Ponzi schemer Jason Nissen is starting to cause problems for Manhattan federal prosecutors seeking to use Rechnitz as its key witness in an upcoming bribery trial.
When six executives of Platinum Partners, including founder Mark Nordlicht, were arrested on Monday on federal charges of running a more than $1 billion hedge fund fraud, people who had long alleged they were harmed by the New York-based firm felt some vindication.
Jewish New Yorkers fear a repeat of the Bernie Madoff scandal after senior executives of a New York hedge fund with close community ties were accused this week of operating a $1 billion Ponzi scheme and indicted on multiple counts of fraud and conspiracy.
Correction union execs weren’t keeping an eye on now-indicted ex-president Norman Seabrook when he invested pension money in a “Ponzi scheme” because he had long showered them with gifts such as cars, a new lawsuit alleges.
Troubled hedge fund manager Platinum Partners was ordered by a U.S. bankruptcy judge to temporarily freeze approximately $118 million after a lawsuit Wednesday accused it of illegally stripping key assets from a now-collapsed energy company.
If we were the Federal Authorities, we would be focusing on preventing a mass exodus of Platinum Partners’ Principles to Israel.
Two Platinum Partners hedge funds have sought U.S. Chapter 15 bankruptcy protection as part of an ongoing liquidation effort, according to court documents filed in New York federal court Tuesday.
Before federal agents raided the offices of Platinum Partners in June, the $1.2 billion hedge fund had been reporting robust returns, thanks partly to oil fields it owns in California.