MURRAY HUBERFELD, MARK NORDLICHT AND OBTIONABLE….
Thanks to our contributor on this one. – LM
Murray Huberfeld grew up in the Bronx and growing up became accustomed to selling off bogus and fraudulent deals. He never grew out of the habit, evidenced by relentlessly ongoing activities in private sector and public market activities. Every case or situation in which he continues to remain unscathed represents an unfortunate continuation of the status quo. He is a link to the Rothstein scandal. I wonder what that’s a link to. Arnold Rothstein?
Optionable Inc, the brokerage located in Valhalla, New York, transacts in the brokerage of
energy derivatives to brokerage and financial services firms globally. On January 22, 2007, NYMEX Holdings, parent to the New York Mercantile Exchange, issued a news release that the they were purchasing a 19% stake in the pink sheet Optionable Inc (OTC:OPBL). While the purchase may be questionable in and of itself, the history of those involved and one particular person tend to stand out.
NYMEX Chairman R. Schaeffer’s announcement of a 19% stake in Optionable, which increased revenues to $16 million from under $6 million. Such was reflected in Optionable’s stock price. But behind the commodity derivative brokerage’s arguably manufactured numbers exists a clinging reliance on related party transactions and often depends on one sole supplier or customer. Such parties include Capital Energy Services, a firm with a President and CEO accounting for a significant interest in Optionable’s revenue last year.
The Bank of Montreal must come as no surprise. According to Optionable filings, this bank accounted for a comparable amount of the Company’s revenues. Optionable received an advantage from this practice, achieving almost 80% margins when otherwise comparing to 56% with nonrelated parties.
David Lee, Bank of Montreal Commodity Trader, accounted for 18% of Optionable’s revenue. Mark Nordlicht founded Optionable Inc in 2000 with the backing of his like-minded morally challenged father, Jules Nordlicht, who had been federally prosecuted for manipulating the oil markets and withholding $27 million in illegal profits.
According to an April 2017 New York Post Article by Roddy Boyd, Jules owns 2.19 million shares.
635 Beach 19th Street
Far Rockaway, NY 11691
Source: OTC Markets
NY Post: Roddy Boyd