[Originally reported in the New York Post on September 12, 2016]
The troubled New York hedge fund that is plaguing the city prison guards’ union has also ensnared the family of Donald Trump’s son-in-law Jared Kushner, The Post has learned.
Hedge fund firm Platinum Partners, which is being investigated by Brooklyn federal prosecutors, was short on cash and desperately borrowing money in the days leading up to the June arrest of one of its co-founders, documents shows.
Among the people it turned to for cash were Marisa and Richard Stadtmauer, the aunt and uncle of Jared Kushner, according to a document from Platinum’s court-appointed liquidator, a copy of which was obtained by The Post. Kushner is married to Trump daughter Ivanka.
On May 27, Marisa Stadtmauer loaned Platinum $4.1 million, the liquidator said. It got another $6.4 million from Richard Stadtmauer, the brother of Kushner’s mother, Seryl, and former vice chairman of family’s real estate empire, Kushner Companies.
Platinum, which is headquartered in Manhattan, also received a $2.3-million loan from the National Society for Hebrew Day Schools the same day it borrowed money from the Stadtmauers, the document said.
Rabbi Zvi Bloom, executive director of the national educational organization, did not return a request for comment.
Shortly after the loans were made, Platinum’s co-founder and Stadtmauer’s pal, Murray Huberfeld, was arrested and charged with bribing Norman Seabrook, the head of the NYC prison guards’ union for a $20 million investment.
Seabrook was also arrested and relieved of his post as head of the Corrections Officers’ Benevolent Association.
Stadtmauer didn’t return requests for comment about the money, which was revealed in a court document filed by liquidation firm RHSW Caribbean, which has taken over Platinum’s flagship fund at the direction of a judge in the Cayman Islands, where the fund is registered.
His chances of being repaid are looking slim.
At the time of the loan, the flagship fund — which makes up the bulk of Platinum’s $1.3 billion in assets — had just $68,530 in cash.
The cash pile has since grown to $881,976, RHSW said. Still, it’s not enough to make a dent to the $365 million Platinum ‘s flagship fund owes Wall Street traders and other lenders, RHSW said.
Stadtmauer and Huberfeld’s ties go back more than a decade as investors in NorCrown Bank, a Livingston, N.J., bank controlled by Kushner’s dad Charles.
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