OJPAC – A Self-Serving Organization Aimed at Clouding Reality,Twisting Truths and Whitewashing – Lakewood

Legislator.wieder

 

Dear Readers:

This article serves as an introduction to an organization that uses social media to rewrite history, to justify the ills of many within the community, to prevent legislation from passage like the ACA, to assist in the demoralization of anything non-ultra-Orthodox and to do so all under the guise of a quasi legitimate charitable organization.

Our attention was drawn to OJPAC by a contributor who pointed specifically to OJPAC’s historical rewrite of the events in Lakewood. This is not the first time an article regarding Rockland County and OJPAC’s ultra-Orthodox voice has lead to reporting on  Yossi Gestetner, spokesperson for the organization and a public face of his fellow politicians and political whores. We are sure it will not be the last.

In the first story in today’s “Latest” section of the OJPAC website there is an article entitled, “To the Advertisers of Asbury Park Press and Gannett Investors.”  Presumably that article is intended to tell the advertisers and investors that the news is being improperly reported. In actuality, it is a rewrite of history, a justification of sorts.

OJPAC’s fame to public relations in the referenced first article on its site is to de- criminalize activities in Lakewood by drawing comparisons to other areas of New Jersey, namely Newark. Sadly, the residents of Newark to whom OJPAC makes a comparison cannot boast the income of those arrested in Lakewood. Rather, Newark has a history of poverty and crime so such a comparison is not only inaccurate but insulting.

Unlike OJPAC’s whitewashed version of the truth, the issue in Lakewood is not the number of children from married couples on assistance as alleged by the PR website; but rather the numbers of couples manipulating entitlement programs who do not meet the parameters of those programs. The same is not true of Newark.

It is worth noting that even the Vaad of Lakewood acknowledged that there is a problem. OJPAC would have done a service to the community and those viewing that community from outside were a similar acknowledgement to have been made. Apparently, however,  the fraudulent activities in Lakewood are acceptable when compared to activities elsewhere, even when such comparisons are non-representative.

We suggest that consistent with the Mission as stated by OJPAC, “to counter the alleged defamation and generalization of the Orthodox Jewish Community” OJPAC should focus on accountability and acknowledgement. To ignore or minimize the the crime that does occur within a fairly large segment of the ultra-Orthodox community is to reduce credibility.

For many, it is difficult not to draw generalizations from a community that has coined the term “Moser” to refer to someone who reports against his own community member. For it is better to remain silent than to report the truth.

We maintain that contrary to their mission, OJPAC is not “organizing civil yet effective community action for fair reporting” but is rather using PR tactics to sway reporting in favor of the ultra-Orthodox community without acknowledging the problems within that community.

We argue that the Federal Authorities should be looking carefully into communities within Rockland County, Kiryat Joel, Crown Heights, Boro Park and other areas across the Eastern 87 Corridor for the same or similar abuses as those committed by members of the Lakewood ultra-Orthodox community. The behavior is indefensible and the comparison to Newark by OJPAC is reprehensible.

Unfortunately, a few bad apples can destroy an entire tree.

We suggest that the authorities should be looking into the activities of any subject on the OJPAC’s website. If a supposed “correction” or alleged “truth” is reported there, it is likely because OJPAC is attempting to minimize or justify activity whether criminal or otherwise.

Finally, we do agree with OJPAC insofar as there are broad generalizations and globally the situation of discrimination and hatred is disturbing. However, stereotypes are based in perception. Perhaps if OJPAC would focus on cleaning up the actions of members of that community, who are sorry examples of Judaism, the worldview might also change.

There are exemplary members of the ultra-Orthodox community. It is just hard to find them when groups like OJPAC color everything using the same white paintbrush.

In the meantime, we offer thanks to the person who provided the voice for this post.

LostMessiah 3.7.17

 

 

 

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A Platinum Loan or a Nordlict Investment – the Yeshiva Business and WTA

A PLATINUM EDUCATION FOR JEWISH CHILDREN, A MODEL TO BE EMULATED, OR – PERHAPS NOT…

This article should be viewed as a follow up to an article we published earlier in April regarding Westchester Torah Academy and alleged “Loans” from Mark Nordlicht to the Westchester Torah Academy.

We contend that the “Loans” were donations. Whether they began as a means of hiding money, a lot of it, and shielding Nordlicht from potential financial liability or evolved and have been converted is a question for debate. We have our theories.

We further posit that subject only to the previous paragraph, the “donations” are now being called back as “Loans” to give Nordlicht visible and “clean” (i.e. laundered) working capital to manage his current legal woes. Each and every dollar Nordlicht is referring to as “Loans” represents an injustice to the Westchester Torah Academy and all of its students and their families..

We finally maintain that if investigators want justice for those many, many people aggrieved by Platinums’ litany of carefully planned and executed swindles, they need to open Nordlicht’s personal financial statements and trusts, scrutinize the money, its providence and underlying transaction. Nordlicht’s (and Bodner’s) personal family trusts, which we believe are comprised of Platinums’ assets should unshieded  from creditors of Platinum and all of its many victims.

See 2012:

Lower-Tuition School Model Spawning Imitators

Impact of just-opened yeshiva being felt, but financial projections remain untested.

November 20, 2012, 12:00 am

 

Rabbi Netanel Gralla, head of Yeshivat He’Atid, has two things he wants everyone to know about his school.

First, teachers have not been replaced by computers. And second, while the tuition — $8,990 for kindergarten and first grade — is substantially lower than that of other area day schools, the students are hardly enduring a no-frills education.

“We have art, music and gym,” the 40-year-old father of seven points out to a visitor during a recent tour of the Bergenfield, N.J. elementary school. “We’re not cutting corners.”

With its dual approach of making Jewish education affordable and using “blended learning,” a mix of computerized and face-to-face instruction, He’Atid — the name means “Yeshiva of the Future” — has been open just two and a half months.

But already, the 116-student Orthodox school’s impact is being felt in the Jewish day school world; other Bergen County schools are lowering tuition in the younger grades and looking to incorporate more technology. Meanwhile, two new Orthodox schools following He’Atid’s model are on track to open next year: Westchester Torah Academy in New Rochelle and Tiferet Academy in Long Island’s Five Towns.

The two planned schools, along with He’Atid, have the financial backing of the New York-based Affordable Jewish Education (AJE), an ambitious nonprofit so new it is still awaiting 501(c)3 approval.

Established by 44-year-old hedge fund manager Mark Nordlicht (who, through an intermediary, declined to be interviewed) together with six anonymous donors, AJE’s goal is nothing less than solving the day school tuition crisis by creating a new breed of tech-savvy, lower-cost schools.

“This is an urgent problem, and we have a sense of urgency,” says Jeff Kiderman, AJE’s executive director. “We can’t take a wait-and-see approach; this is the time to act.”

The money from AJE is intended solely as a startup investment to get the schools “on their feet”; the goal is that eventually the schools will be financially self-sustaining.

“The point is not to redistribute who’s paying, but to change how much it actually costs,” says Kiderman.

The He’Atid approach, inspired in part by innovative charter schools like California’s RocketShip and Arizona’s Carpe Diem, is not without its critics. While it’s hard to object to lower tuition, some parents — and leaders of established day schools — are skeptical about blended learning, which has yet to be proven successful on a large scale or over the long term. Others wonder whether AJE and He’Atid’s budget projections are realistic — the school, currently spending over $11,000 per student, is supposed to break even financially in its third year — or if the model risks faltering as it expands (the target size is about 1,000 students in pre-K through eighth grade).

Not helping the matter is that He’Atid and AJE have refused to make public the details of the “model” they are using to project expenses, although they have revealed that cost savings will come from “efficiencies” like larger class sizes, fewer administrators and group purchasing.

“The ‘model’ is just our prediction of what we think will happen — what’s more important is what actually happens,” says Kiderman. “We are constantly tweaking the model as we learn more, and we are prepared to share it with any school who wishes to learn from it.

Says Gershon Distenfeld, He’Atid’s president: “We’re happy to go over it one on one, but with no context everything gets misinterpreted.”

 

Continue reading

THE PLATINUM QUESTION – WAS ANYBODY LISTENING?

PLATINUM PARTNERS AND THEIR OUTRAGEOUS RETURNS

LostMessiah 4 January 2016

LostMessiah was and has been the brainchild of several people who began this venture last February with a few stories already in our heads, Platinum being front and center.

From the very beginning we made clear that something was very wrong with Platinum, beginning with the extraordinary, though irrational returns. We then raised the question of David Bodner and a piece of property (191 Viola Road) that transferred names rather nefariously in Rockland County, New York.

We questioned the Africa-Israel connection and most notably those who financed Platinum in its early years: David Bodner and Murray Huberfeld and their band of merry… Philanthropists? No.

We posted diagrams.

Huberfeld Ponzi1.3

We showed you the connections between Seabrook and Platinum, COBA and Platinum. We even spoke of Black Elk, a story still in its making. We believe that most of the Platinum investor money (which is likely currently in the family trusts of Bodner and Huberfeld and in the yeshivas begun by Nordlicht and his family) belongs to Black Elk investors who were taken for a ride during a tender offer which was specifically intended to drain the company of its assets.

That story is still one to be told but unfortunately 12 pages later, we have found a web of lies and a spider with far more than eight legs and we have not even scratched the surface.

The investor money has not been spent, in our view. It has been funneled. The trick is going to be getting it out from under the various trust laws protecting it. The key to Huberfeld’s participation in all of this beyond his family trusts is his property which has more recently been transferred to his wife in a quit-claim deed. 

There were people questioning – just too few listening.

 

See also:

https://lostmessiahdotcom.wordpress.com/2016/04/13/the-seabrook-connection-investments-gone/

https://lostmessiahdotcom.wordpress.com/2016/04/15/the-long-short-nope-the-dead-undead/

https://lostmessiahdotcom.wordpress.com/2016/04/14/theres-not-enough-time-in-the-day-to-discuss-nordlicht-huberfeld-bodner/

READ FURTHER:

No One Questioned This Hedge Fund’s Madoff-Like Returns

  • Red flags abounded while hedge fund claimed 17% annual gains
  • Platinum was embroiled in rogue trades, Florida Ponzi scheme

In the years before Mark Nordlicht was arrested for what’s alleged to be one of the biggest investment frauds since Bernie Madoff’s, U.S. authorities had plenty of reasons to suspect something might have been fishy about his hedge fund, Platinum Partners.

As far back as 2007, Bank of Montreal accused Nordlicht of helping a rogue trader, costing it more than $500 million. Three years later, when the Securities and Exchange Commission was investigating what it called a “scheme to profit from the imminent deaths of terminally ill patients,” the agency discovered that Platinum had funded the deals. And in 2011, a Florida lawyer who confessed to running a $1.2 billion Ponzi scheme testified that Nordlicht, his biggest funder, lied to help him lure new investors.

And then there were the remarkable profits: 17 percent annually on average from 2003 through 2015, with no down years. The returns were almost as smooth as the fake gains that Madoff claimed year after year, as measured by a popular metric called the Sharpe ratio. Continue reading

Black Elk – The Platinum Litany of Lawsuits – claims filing information

The following is information related to the Platinum and Black Elk lawsuits. At the bottom of the page you will find a series of links. We have been asked how investors can file claims in the suit. Those links provide that information.

 

 

black-elk-litigation

To see the above action click the below link.

uscourts-txsd-4_16-cv-00611-0

Hearing information: http://www.txs.uscourts.gov/page/tentative-hearing-dates-black-elk-energy-offshore-operations-llc

https://www.inforuptcy.com/community/bankruptcy-attorneys-and-news-15-34287-Black-Elk-Energy-Offshore-Operations–LLC–txsbke_395398

 

DOCKET AND FILING A CLAIM IN THE BANKRUPTCY CASE

Texas Southern Bankruptcy Court Case 4:15-bk-34287 – Black Elk Energy Offshore Operations, LLC and Ad Hoc Committee of Secured Noteholders | Inforuptcy


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https://www.inforuptcy.com/filings/txsbke_395398-4-15-bk-34287-black-elk-

Latest Dockets

Date Filed # Docket Text
10/26/2016 1322 Order Granting Motion For Relief From Stay (Related Doc # 1298) Signed on 10/26/2016. (adol) (Entered: 10/26/2016)
10/26/2016 Courtroom Minutes. Hearing Held: 2:30 PM. Appearances: David Curry for Richard Schmidt. Eric Rhine for Robert Henderson. The Motion for Relief filed by Argonaut was withdrawn. With respect to the Motion for Relief by Robert Henderson, an agreement was reached. Order signed. Mr. Curry announced his client filed an adversary proceeding and a TRO against several Platinum Entities. (Related document(s):[1290] Motion for Relief From Stay, [1298] Motion for Relief From Stay) (mrios)
10/26/2016 Courtroom Minutes. Hearing Held: 2:30 PM. Appearances: David Curry for Richard Schmidt. Eric Rhine for Robert Henderson. The Motion for Relief filed by Argonaut was withdrawn. With respect to the Motion for Relief by Robert Henderson, an agreement was reached. Order signed. Mr. Curry announced his client filed an adversary proceeding and a TRO against several Platinum Entities. (Related document(s):[1290] Motion for Relief From Stay, [1298] Motion for Relief From Stay) (mrios)
10/26/2016 1321 Adversary case 16-03237. Nature of Suit: (13 (Recovery of money/property – 548 fraudulent transfer)),(14 (Recovery of money/property – other)), (81 (Subordination of claim or interest)) Complaint by Richard Schmidt against Platinum Partners Value Arbitrage Fund LP, Platinum Partners Credit Opportunities Master Fund LP, Platinum Partners Liquid Opportunities Master Fund LP, PPVA Black Elk (Equity) LLC. Fee Amount $350 (Attachments: # 1Exhibit Adversary Proceeding Cover Sheet) (Waggoner, Justin) (Entered: 10/26/2016)
10/24/2016 1320 Notice of Appearance and Request for Notice Filed by Philip K Jones Jr Filed by on behalf of Starfish Pipeline Company (Jones, Philip) (Entered: 10/24/2016)
10/08/2016 1318 BNC Certificate of Mailing. (Related document(s): 1314Order on Emergency Motion) No. of Notices: 72. Notice Date 10/08/2016. (Admin.) (Entered: 10/08/2016)
10/07/2016 1319 Replyin Support of(related document(s): 1278Generic Motion). Filed by Shamrock Management, LLC (bcam) (Entered: 10/17/2016)
10/07/2016 1317 BNC Certificate of Mailing. (Related document(s): 1313Order on Motion to Appear pro hac vice) No. of Notices: 72. Notice Date 10/07/2016. (Admin.) (Entered: 10/08/2016)
10/07/2016 1316 BNC Certificate of Mailing. (Related document(s): 1312Order on Motion to Appear pro hac vice) No. of Notices: 70. Notice Date 10/07/2016. (Admin.) (Entered: 10/08/2016)
10/07/2016 1315 BNC Certificate of Mailing. (Related document(s): 1311Order on Motion to Appear pro hac vice) No. of Notices: 69. Notice Date 10/07/2016. (Admin.) (Entered: 10/08/2016)

 

Black Elk Running – the Litigation and the Attorneys Handling It

 

http://www.businesswire.com/news/home/20161026006916/en/CORRECTING-REPLACING-Top-10-Litigation-Boutique-Smyser-Kaplan

CORRECTING and REPLACING Top-10 Litigation Boutique, Smyser, Kaplan & Veselka, L.L.P., Seeks over $200 Million for Oil and Gas Industry Creditors Defrauded by Embattled Billion-Dollar New York Hedge Fund

CORRECTION…by Smyser, Kaplan & Veselka, L.L.P.
October 26, 2016 08:06 PM Eastern Daylight Time

 

HOUSTON–(BUSINESS WIRE)–Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

TOP-10 LITIGATION BOUTIQUE, SMYSER, KAPLAN & VESELKA, L.L.P., SEEKS OVER $200 MILLION FOR OIL AND GAS INDUSTRY CREDITORS DEFRAUDED BY EMBATTLED BILLION-DOLLAR NEW YORK HEDGE FUND

Retired United States Bankruptcy Judge Richard S. Schmidt serves as Trustee of the Black Elk Energy Offshore Operations, LLC Litigation Trust. Judge Schmidt filed an Original Complaint alleging that Platinum Partners Value Arbitrage Fund LP, Platinum Partners Credit Opportunities Master Fund LP, Platinum Partners Liquid Opportunities Master Fund LP, and PPVA Black Elk (Equity) LLC (collectively “Platinum”) is liable for more than $200 million in improperly transferred assets for its use and benefit. See Richard Schmidt, Trustee of The Black Elk Energy Offshore Operations, LLC Litigation Trust vs. Platinum Partners Value Arbitrage Fund LP, et al, Case No. 16-03237, In the United States Bankruptcy Court for the Southern District of Texas, Houston Division.

Contemporaneous with that filing, came an Emergency Application for Preliminary Injunctive Relief in Houston bankruptcy court. In it, the Trustee sought and won an immediate temporary restraining order and subsequently intends to seek a temporary injunction to freeze $97,959,854.79 Platinum fraudulently transferred to itself from Black Elk Energy Offshore Operations, LLC (“Black Elk”).

______________________________

The Black Elk-Platinum relationship began when Platinum aggressively overtook Black Elk by acquiring 85% of the company within three years of its initial investment. Once in control, Platinum stripped Black Elk of its valuable assets, leaving the company without the financial means to repay creditors. Platinum then engaged in shrewd financial maneuvers to route funds obtained from the sale of Black Elk’s assets back to itself. Platinum’s actions ultimately forced Black Elk into involuntary bankruptcy, later converted into a Chapter 11 reorganization and subsequent liquidation.

Although the Complaint details actions Platinum took to Black Elk’s detriment on several transactions, a primary focus in the Emergency Application was on Platinum’s manipulation of the more than $120 million in proceeds from the sale of Black Elk’s best Gulf of Mexico assets. Smyser stated: “Platinum engineered a transfer of more than $97 million to it and for its benefit from the sale of Black Elk’s prime oil and gas assets, a transfer that led to Black Elk’s demise and deprived creditors and oilfield workers of payment for work they’d done. It was an outrageous plundering of a company.”

While Platinum’s main fund has money owed to Black Elk creditors, the Platinum fund itself has now initiated a Chapter 15 bankruptcy. The fund, in liquidation proceedings in the Cayman Islands, has filed a request that the New York bankruptcy court recognize the Cayman liquidation proceedings and enter a stay of U.S. proceedings against the fund’s creditors. Earlier this year, the federal government indicted one of Platinum’s principals, Murray Huberfeld. The Trustee is pleased that the trust could count on the Houston bankruptcy court to freeze Platinum’s funds fraudulently acquired from Black Elk before Platinum could succeed in dissipating them or other creditors obtained them.

_____________________________

Release Versions

 To read the article in its entirety click here.

A Platinum Result – Assets Frozen

 

Fraud_Triangle

Platinum assets frozen on allegations of ‘plundering’ over $200 million

http://www.reuters.com/article/us-hedgefunds-platinum-idUSKCN12R08L

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.

The complaint, filed on behalf of a trustee representing creditors of Black Elk Energy Offshore Operations, LLC, alleges that Platinum is liable for more than $200 million in assets it improperly transferred into its various funds from Black Elk, effectively killing the company.

Platinum was able to unfairly profit from Black Elk, according to the suit in Federal bankruptcy court, through a coordinated scheme with Beechwood, a reinsurance business with close ties to Platinum. The two parties allegedly rigged a Black Elk bond vote in 2014 that allowed Platinum to pocket proceeds from a major asset sale, instead of creditors and secured note holders that included AQR Capital Management.

That apparent coordination by Beechwood and Platinum was featured in a Reuters’ investigation published in April.

U.S. bankruptcy judge Marvin Isgur wrote in his order Wednesday that “the allegations … reflect a pattern of fraud and abuse by Platinum” and there is a “reasonable probability that fraud has occurred.”

A spokesman for Platinum, led by Mark Nordlicht, declined to comment. A spokesman for Beechwood, led by Mark Feuer, did not immediately respond to a request for comment.

Houston-based Black Elk entered into bankruptcy in 2015 and is now being dissolved. A litigation trust remains in an effort to repay creditors following what attorney Craig Smyser called an “outrageous plundering” of the company.

Platinum, once a high-performing, $1.35 billion hedge fund manager based in New York, has been in crisis for months.

A longtime associate of the firm was arrested in June, federal regulators are investigating the firm, and its main funds are being liquidated under the supervision of a pair of monitors. Most recently, its flagship hedge fund filed for bankruptcy protection on October 18.

Beechwood also faces pressure from the investments it made in Platinum funds and related companies – including Black Elk – on behalf of insurance companies such as CNO Financial Group Inc and Senior Health Insurance Company of Pennsylvania.

To read the article in its entirety click here.

 

66th Precinct – What’s the Going Rate for a Corrupt Cop?

nypd_corruption

Lt. Michael Andreano Joins the Ranks of those Alleged to be in Bed with the Epidemic of Corruption within the Ultra Orthodox Community of Borough Park and Beyond…

 

NYPD lieutenant stripped of badge, gun over ties to bribery scheme

http://nypost.com/2016/10/24/nypd-lieutenant-stripped-of-badge-gun-over-ties-to-bribery-scheme/

A high-ranking Brooklyn cop has been stripped of his badge and gun over ties to a key figure in an alleged $1 million NYPD bribery scheme, The Post has learned.

Lt. Michael Andreano of the 66th Precinct in Boro Park was put on desk duty as part of the wide-ranging corruption probe that has already resulted in pending charges against three NYPD bosses, sources said.

Andreano is suspected of having improper dealings with Alex “Shaya” Lichtenstein, a leader of the Boro Park “Shomrim” patrol who in April was busted on bribery and conspiracy charges involving pistol permits, sources said.

“This guy was tight with Shaya and would go out of his way to accommodate him,” a source said.

Andreano served as a community-affairs sergeant in the 66th Precinct before getting promoted to lieutenant in 2015 and transferred to the 60 Precinct in West Brighton.

He was transferred back to the 66th after “a month or two,” sources said, and put in charge of Special Operations there.

Andreano’s return was announced at a Community Council meeting in September 2015, according to the KensingtonBK blog.

Lichtenstein was allegedly recorded offering a whistleblowing cop $6,000 a pop to “expedite” approval of pistol permits for members of Brooklyn’s Orthodox Jewish community.

During that conversation, Lichtenstein used a calculator to show that 150 permits would be worth $900,000, according to the feds.

He also allegedly bragged that he had already scored 150 permits for clients who paid him up to $18,000 each for the service but said he had lost his connection in the NYPD’s License Division.

Earlier this month, a prosecutor revealed there had been “continuous discussions” for Lichtenstein to strike a plea deal, and a judge gave both sides until Nov. 3 to come to terms or proceed with the case.

The cop who secretly recorded Lichtenstein, former License Division member David Ochetal, secretly pleaded guilty and agreed to cooperate with authorities after admitting that he had accepted “lunch money” from Lichtenstein.

To read the article in its entirety click here.