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.
A lawyer defending Platinum Partners founder Mark Nordlicht against fraud charges said on Monday an FBI agent who admitted to leaking to the press on an insider trading probe of sports gambler William “Billy” Walters may also have leaked about Platinum.
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.
For his son’s bar mitzvah in 2008, hedge-fund manager Murray Huberfeld chartered a JetBlue plane and invited hundreds to an oceanfront party in Palm Beach, Fla. An Orthodox pop star known as the “Jewish Elvis” entertained the guests, who Mr. Huberfeld says included investors in his fund.
New York – The former union leader for New York City’s prison guards and a hedge fund financier pleaded not guilty on Friday to engaging in a bribery scheme in a case linked to a widening federal municipal-corruption investigation.
Platinum Partners’ offices were raided by federal agents looking into the hedge fund’s operations after a manager at the firm was charged this month with bribing a union chief, according to a person familiar with the matter.