Seabrook and Huberfeld and Platinum – WE CALLED IT!!!

 

Unorthodox Returns.Paladium Partners

Platinum Funds- WE CALLED IT!!! –

MarkNordlicht

David Bodner was the subject of one of our first articles regarding a house sold in Monsey and the questionable transfer of the title. He connected us to Platinum and while we have not focused on Black Elk, all of the events regarding that fund have irked us and our contributors and sources for months.

And then Mark Nordlicht... His moral compass may be missing the “N” as the directional. He makes money betting on nursing home patients who are on the verge of death, with the help of a California Rabbi. We have our suspicions as to that Rabbi’s identity, a “philanthropist.”

The article we have posted below this one has been our Bible for exploring this fund and its activities, if for no other reason but the numbers simply don’t make sense. The patterns are wrong. There is much more to this than meets the eye.

We are still waiting on the connections to illegal diamond smuggling, the event-driven nursing home dead/undead life insurance investment schemes and so many collateral issues to come to light. For now…. Seabrook and Huberfeld are a very good start.

See below for Articles on Platinum Partners, cited in our previous articles.

LostMessiah June 8, 2016

 rechnitz

FBI Arrests Correction Union President Norman Seabrook For Wire Fraud

http://gothamist.com/2016/06/08/fbi_arrests_correction_union_presi.php

U.S. Attorney Preet Bharara’s corruption investigation into NYC officials has now landed another big fish: Correction union president Norman Seabrook was arrested this morning, on wire fraud charges. Seabrook is accused of receiving kickbacks in exchange for funneling millions of union retiree benefits and operating funds to a hedge fund run by Murray Huberfeld.

Huberfeld, who gave start-up capital to the fund Platinum Partners, was also charged with wire fraud.

In April, the Wall Street Journal reported, “Jona Rechnitz, a Brooklyn real-estate investor, referred Norman Seabrook, the president of the Correction Officers’ Benevolent Association, to Platinum Partners, the people said. The investment put a large percentage of the union’s money in a firm that has had a mixed stretch. Platinum generally has reported steady returns. Last December it blocked investors from withdrawing some of their money in one fund that contains hard-to-sell assets, according to people familiar with the matter. Such moves have been rare in the hedge-fund world since the financial crisis.”

The criminal complaint notes that members of the Correction Officers’ Benevolent Association (COBA) pay $45 in union dues during each two-week pay period, resulting in $1,000+ of union fees a year; there are more than 9,000 union members. And Seabrook’s power over the union’s board was immense; from the complaint:

2016_06_seabrookcc.jpg

Rechnitz is one of the two businessmen at the center of the federal probe into corruption, with Rechnitz and Jeremy Reichberg using cash and jewels to allegedly get favors from city officials. Both were major donors to Mayor Bill de Blasio’s election efforts. Numerous high-ranking police officials have retired or been demoted, for giving escorts or helicopter demonstrations.

The NY Times notes, “The relationship between the mayor and Mr. Seabrook has been close in the past. At a 2014 fund-raiser for a union charity, Mr. de Blasio referred to Mr. Seabrook as a ‘friend’ and a ‘great leader.'”

Bharara is holding a press conference at 12:30 p.m. to discuss the charges.

 

 Thompson

No Blow Up Is Big Enough to Tarnish Platinum Partners’ Returns

WHO IS THE RABBI – SEE BELOW IN RED…

http://www.bloomberg.com/news/articles/2015-10-21/no-blow-up-is-big-enough-to-tarnish-platinum-partners-returns

9 thoughts on “Seabrook and Huberfeld and Platinum – WE CALLED IT!!!

  1. As a religious person in the community all of us were very upset at the way the huberfeld portrayed themselves. No regard to other ppl feelings shoeing off lavishly and always popping eyes out. Were they waiting for ayin hora is all we would ask? But we wish them good luck regardless.

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    • Thats interesting that your write this, first of all you write “all of us” who gave you the authority to speak for others in the community. Second, What about the millions of dollars he gives away yearly to charities. You write “no regard to other people feelings”, Have you ever been to his house on Purim? He does not just write checks and hand them out, rather he sits for hours listening to each persons stories and helps them in whatever way he can. Lastly, As a quote on quote religious person you shouldn’t be speaking, writing, or listening to lashon hara. Before you condemn others you should take a look in the mirror.

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      • @jane – it is unfortunate how misguided you are. He could hand over his first born son and it would do little in our view, to absolve him of his shameless and unconscionable acts. It is easy to spend hours listening to the stories of others and “hand out checks” when the money is little more than blood money. As to “religious person” to whom are you speaking, please clarify. Lashon Hara… that is really quite rich. That is what the rabbis tell the children before they molest them and why the community allows those abuses to go unnoticed.

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  2. We all know the saying, “if it sounds too good to be true it probably is”. Pension money , union dues etc should never be put in hedge funds. If the S&P returns 5% and this guy promises 20% people should run the other way. How much of the union dues was lost?

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  3. The great thing about making connections between scandals like this in NYC/NYS is that they are easily connected by those bothering to look because the entire state is one giant web of corruption. Everyone is in bed with everyone else. Everyone is paying everyone else off one way or another. Traditionally any “investigations” are limited and managed in such a way as no new stones are ever unturned.

    If Preet really IS different from the corrupt “investigators” who’ve come before, then it will be like shooting fish in a barrel. Lean on each of these people hard enough and they will give up 50 others. He could indict half the state within 6 months if he wants to. Let’s hope….

    Liked by 1 person

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