New York Hedge Fund Founder Sentenced to Prison in Neiman Marcus Fraud businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
Hedge Fund Founder Pleads Guilty to Neiman Marcus Bankruptcy Fraud
Daniel Kamensky pressured a rival investor to drop its bid for assets he wanted on the cheap.
The founder of a New York-based hedge fund has pleaded guilty to bankruptcy fraud for pressuring a rival investor to abandon a bid to acquire certain assets from the Neiman Marcus bankruptcy so he could buy them for as little as half as much.
When luxury department store Neiman Marcus filed for Chapter 11 bankruptcy protection in May, Marble Ridge Capital founder Daniel Kamensky was appointed co-chair of the official committee of unsecured creditors. According to the US Attorney’s Office for the Southern District of New York, Kamensky was negotiating with the committee to acquire Neiman Marcus securities known as MyTheresa series B shares for $0.20 a share when he learned that an unnamed investment bank wanted to offer between $0.30 and $0.40 each for the same shares.
Hedge fund founder from Roslyn pleads guilty to bankruptcy fraud, feds newsday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.com Daily Mail and Mail on Sunday newspapers.
A hedge fund founder pleaded guilty Wednesday to a criminal charge alleging he defrauded Neiman Marcus creditors by pressuring an investment bank not to bid against his hedge fund to buy securities from them.
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