The Platinum Serial – Look Back to Bernie Madoff – Don’t Ignore the Pictures

“THE TRAIL OF PEOPLE WHO CALLED HIM THEIR BROTHER, THEIR BEST FRIEND”…

We have read dozens of comments about Huberfeld, Nordlicht and Landesman, amongst others, many of which accuse us of attacking their friends. We have one particular commenter who thinks we should leave this story alone, particularly where Huberfeld is concerned. He is a good person, she says. He has family. He did not go in intending to defraud his investors.

Yes. He did. As did the others.

She then said that if people lost their children’s college funds they were, in sum, foolish to have invested it all. Well, the same has been said of Madoff. In fact, in some interview somewhere Madoff is quoted as saying something like: If they were stupid enough to trust me with all of their money, they deserved to lose it.

We beg to differ.

Platinum’s partners are serial manipulators, preying on the greed of some, the weakness of others and the trust of their friends and families. You, the investors were taken for a ride. The same can be said of Madoff’s investors.

See the video below.

http://video.vanityfair.com/watch/vintage-vf-bernie-madoff-s-victims-speak-out

 

For further information:

Madoff Victims’ Payout Nears $7.2 Billion, Trustee Says

U.S. charges Platinum Partners execs with $1 billion fraud

 

Implant Sciences – Another Platinum Victim

Implant Sciences Shareholders Call for Platinum Partners Investigation

http://www.wsj.com/articles/implant-sciences-shareholders-call-for-platinum-partners-investigation-1479328676

Continue reading

Platinum Partners and the People Involved…. Tickets to Israel, Anyone?

 

If we were the Federal Authorities, we would be focusing on preventing a mass exodus of Platinum Partners’ Principles to Israel.

For more information on the fund click, here.

PLATINUM MANAGEMENT NY LLC- Ratings & Rankings by Symmetric

Mark A. Nordlicht Owner, Co-Cio – Platinum Management (Ny) Llc,Platinum Credit Management Lp, Platinum Liquid Opportunity Management (Ny) Llc January-2002
Paul A. Poteat Chief Technology Officer (All Advisers) June-2007
Gilad Kalter Owner Platinum Mgmt (Ny) Llc,Platinum Credit Mgmt Lp, Platinum Liquid Opportunity Mgmt (Ny) Llc, Bayberry Cf Mgmt Llc June-2007
Naftali Manela Chief Operating Officer (All Advisers) February-2008
Brian Jedwab Owner And Cio Of Bayberry Cf Management Llc June-2007
David I. Levy Owner & Co-Cio Platinum Mgmt (Ny) Llc,Platinum Credit Mgmt Lp, Platinum Liquid Opportunity Mgmt (Ny) Llc January-2015
David Ottensoser Chief Compliance Officer (All Advisers) December-2014
Feng Shi Chief Risk Officer (All Advisers) February-2015
Bernard Fuchs Owner – Platinum Management (Ny) Llc,Platinum Credit Management Lp, Platinum Liquid Opportunity Management (Ny) Llc January-2014
Daniel Mandelbaum Chief Financial Officer (All Advisers) January-2015
Isaac Y. Barber Manging Member Of Marbridge Management Ii Llc March-2015
David I. Levy Owner Of Bayberry Cf Management Llc January-2015
Joseph . Sanfilippo Chief Financial Officer – Platinum Management (Ny) Llc February-2005
Joel . Edelstein Director Of Operations – Platinum Credit Management L.P. December-2009
Joel . Edelstein Director Of Operations – Bayberry Cf Management Llc December-2009
Uri D. Landesman President/Managing Member – Platinum Management (Ny) Llc April-2010
Uri D. Landesman Principal – Platinum Credit Management L.P. April-2010
Uri D. Landesman Owner – Platinum Liquid Opportunity Management (Ny) Llc April-2010
&Quot;Stewart&Quot; (. Kim Chief Risk Officer – Platinum Management (Ny) Llc May-2012
Will W. Slota Chief Operations Officer – Platinum Management (Ny) Llc January-2013

A Platinum Investigation

 

Thompson

EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims on Behalf of Investors in Platinum Partners Funds

 

NEW YORK –(BUSINESS WIRE)

Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of investors in Platinum Partners’ funds resulting from allegations that Platinum Partners may have issued materially misleading business information to the investing public.

On June 8, 2016 news outlets reported that a manager at Platinum Partners, Murray Huberfeld, was arrested for allegedly bribing a union leader in exchange for an investment in Platinum Partners. According to the criminal complaint, Huberfeld is a founder and part owner of Platinum Partners and he may have been playing a leading role at Platinum Partners that was not publicly acknowledged by the firm. On June 22, 2016, agents from the FBI and the U.S. Postal Inspection Service raided the headquarters of Platinum Partners. On July 25, 2016, The Wall Street Journal reported that federal agents are not only investigating alleged bribery at the fund, but are investigating the fund for fraud. According to The Wall Street Journal, federal agents are probing whether Platinum Partners misstated values of some of its holdings, probing the firm’s service providers, including auditors who certified its figures, and probing whether, before Platinum Partners suspended redemptions of its main fund, Platinum Partners Value Arbitrage Fund, Platinum Partners had been paying some reported investment gains to exiting investors with money from incoming investors.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered from investors in Platinum Partners funds. If you invested with Platinum Partners please visit the firm’s website athttp://rosenlegal.com/cases-924.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email atpkim@rosenlegal.com or kchan@rosenlegal.com.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Black Elk and Huberfeld – FBI Raids Platinum

Huberfeld Ponzi1.3

REPRINT OF JUNE 22, 2016 ARTICLE

LM had promised details on Platinum Partners and the Black Elk deal. At the center of the story is Centurion, Murray Huberfeld, Mark Nordlicht, David Bodner, Uri Landesman  an energy company, a pharmaceutical company, an oil company, Singapore, the Gulf of Mexico, Israel, Florida, TD Bank, event driven investments and of course, diamond mining.

The story is so convoluted that winding or unwinding or rewinding has been taking some time. We are trying for tomorrow. In the meantime…

 

The FBI Dealt Platinum a Blow…

Unorthodox Returns.Paladium Partners

Platinum Partners Could’ve Dealt Without Being Raided By The FBI Today

dealbreaker.com/2016/06/platinum-partners-fbi-raid/

In addition to seeking out investments that will offer superior returns for its clients, a couple things that hedge fund Platinum Partners has been up to lately are:

1. Complying with a subpoena it received from the U.S. Attorney’s Office for the Eastern District of New York and
2. Dealing with a separate “wide-ranging corruption investigation by the U.S. Attorney’s Office for the Southern District of New York”

So what it probably didn’t reaaaaally need today was to have the Feds show up to headquarters with a search warrant, but when it rains

 

Platinum Partners Said to Be Raided by

FBI Amid Bribes Probe

http://www.bloomberg.com/news/articles/2016-06-22/platinum-partners-said-to-be-raided-by-fbi-amid-bribery-probe

 

 

Platinum Partners raided by federal agents amid dual investigations

http://www.reuters.com/article/us-hedgefunds-platinum-idUSKCN0Z82JE

That probe resulted in the arrest on June 8 of longtime Platinum associate Murray Huberfeld for allegedly orchestrating a bribe to a union leader in exchange for an investment in Platinum. Huberfeld, through his attorney, has disputed the charges. Platinum was not named as a defendant in the related case.

Platinum remains in business with more than $1 billion under management. But the firm recently informed investors that it was likely to slowly wind down its largest hedge fund offering, Platinum Partners Value Arbitrage, and is considering doing the same for its other large strategy, Platinum Partners Credit Opportunities.

“Going forward, the plan contemplated for PPVA will be for it to operate as a close ended fund, whereby the fund will be closed to new subscriptions, and proceeds of the monetization of any of our investments will be used to either support other current investments in the portfolio or distributed to stakeholders,” Nordlicht wrote in a note to investors on June 15 seen by Reuters.

He added that the unwinding would be done gradually to avoid a “fire sale” of investments.

Founded in 2003, Platinum has racked up profits that few in the hedge fund industry can match. But its strategy of lending to troubled companies carries risks that have turned off many large investors, according to a Reuters investigation earlier this year.

(For Reuters’ Special Report on Platinum, click here – here)

FBI RAIDS PLATINUM – Murray Huberfeld

 

Huberfeld Ponzi1.3

Platinum Partners, Need we Say we Called it?

LM had promised details on Platinum Partners and the Black Elk deal. At the center of the story is Centurion, Murray Huberfeld, Mark Nordlicht, David Bodner, Uri Landesman  an energy company, a pharmaceutical company, an oil company, Singapore, the Gulf of Mexico, Israel, Florida, TD Bank, event driven investments and of course, diamond mining.

The story is so convoluted that winding or unwinding or rewinding has been taking some time. We are trying for tomorrow. In the meantime…

 

The FBI Dealt Platinum a Blow…

 

10891665_758859090875416_3151705795704131224_n

Platinum Partners Could’ve Dealt Without Being Raided By The FBI Today

dealbreaker.com/2016/06/platinum-partners-fbi-raid/

In addition to seeking out investments that will offer superior returns for its clients, a couple things that hedge fund Platinum Partners has been up to lately are:

1. Complying with a subpoena it received from the U.S. Attorney’s Office for the Eastern District of New York and
2. Dealing with a separate “wide-ranging corruption investigation by the U.S. Attorney’s Office for the Southern District of New York”

So what it probably didn’t reaaaaally need today was to have the Feds show up to headquarters with a search warrant, but when it rains

 

Platinum Partners Said to Be Raided by

FBI Amid Bribes Probe

http://www.bloomberg.com/news/articles/2016-06-22/platinum-partners-said-to-be-raided-by-fbi-amid-bribery-probe

 

 

Platinum Partners raided by federal agents amid dual investigations

http://www.reuters.com/article/us-hedgefunds-platinum-idUSKCN0Z82JE

That probe resulted in the arrest on June 8 of longtime Platinum associate Murray Huberfeld for allegedly orchestrating a bribe to a union leader in exchange for an investment in Platinum. Huberfeld, through his attorney, has disputed the charges. Platinum was not named as a defendant in the related case.

Platinum remains in business with more than $1 billion under management. But the firm recently informed investors that it was likely to slowly wind down its largest hedge fund offering, Platinum Partners Value Arbitrage, and is considering doing the same for its other large strategy, Platinum Partners Credit Opportunities.

“Going forward, the plan contemplated for PPVA will be for it to operate as a close ended fund, whereby the fund will be closed to new subscriptions, and proceeds of the monetization of any of our investments will be used to either support other current investments in the portfolio or distributed to stakeholders,” Nordlicht wrote in a note to investors on June 15 seen by Reuters.

He added that the unwinding would be done gradually to avoid a “fire sale” of investments.

Founded in 2003, Platinum has racked up profits that few in the hedge fund industry can match. But its strategy of lending to troubled companies carries risks that have turned off many large investors, according to a Reuters investigation earlier this year.

(For Reuters’ Special Report on Platinum, click here – here)