Hedge Fund Manager Who Said âIâm Going To Jailâ Is In Fact Going To Jail
But at least heâs not going to jail for 18 months.
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But at least heâs not going to jail for 18 months.
Dan Kamensky knew what he had coming to him. Shortly after attempting to browbeat his investment bank into not outbidding him for something he’d fought for and wanted for his hedge fund, Marble Ridge Capital, he turned to pleading. “If you’re going to continue to tell them what you just told me, I’m going to jail, okay?” he said. “I’m asking you not to put me in jail.” Well, Kamensky’s begging proved no more successful than his bullying, and the Jefferies banker on the other end did continue to tell them what he had just told Kamensky, which was probably something along the lines of, “you appear to have breached your fiduciary duty to your fellow Neiman Marcus creditors, whom you represent as a member of the creditors committee, but trying to keep them fro
New York hedge fund founder Kamensky sentenced to prison in Neiman Marcus fraud
Reuters | May 07, 2021 11:56 PM EDT
Shoppers enter and exit the Neiman Marcus at the King of Prussia Mall, United States largest retail shopping space, in King of Prussia, Pennsylvania (Photo : REUTERS/Mark Makela/File Photo)
The New York hedge fund founder who predicted he might go to jail for corrupting the sale of some assets during the bankruptcy of Neiman Marcus was sentenced on Friday to six months in prison.
Daniel Kamensky, 48, of Roslyn, New York, had pleaded guilty in February to bankruptcy fraud for pressuring Jefferies Financial Group not to bid for securities belonging to the luxury retailer s creditors so his now-closed Marble Ridge Capital LP could buy them at a lower price.
Friday, May 7, 2021
Five plaintiffs recently voluntarily dismissed their putative securities class action lawsuits one year after sending shock waves through the crypto world when they filed eleven alleged class action lawsuits against cryptocurrency exchanges and issuers. The five dismissals come shortly after recent rulings in two of the eleven lawsuits dismissing plaintiffs’ claims for failure to bring the claims within the one-year statute of limitations.
Last April, law firms Roche Freedman LLP and Selendy & Gay PLLC filed eleven class actions in the Southern District of New York. As with SEC regulatory actions against the virtual currency industry, the private litigants’ core allegation was that the companies violated §§ 5 and 12(a)(1) of the Securities Act of 1933 by engaging in the unregistered sales of securities when launching their initial coin offerings (ICOs), and, as to the exchanges, conducted millions of transactions without registering with the
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Five plaintiffs recently voluntarily dismissed their putative securities class action lawsuits one year after sending shock waves through the crypto world when they filed eleven alleged class action lawsuits against cryptocurrency exchanges and issuers. The five dismissals come shortly after recent rulings in two of the eleven lawsuits dismissing plaintiffs’ claims for failure to bring the claims within the one-year statute of limitations.
Last April, law firms Roche Freedman LLP and Selendy & Gay PLLC filed eleven class actions in the Southern District of New York. As with SEC regulatory actions against the virtual currency industry, the private litigants’ core allegation was that the companies violated §§ 5 and 12(a)(1) of the Securities Act of 1933 by engaging in the unregistered sales of securities when launching their initial coin offerings (ICOs), and, as to the exchanges, conducted millions of transactio
New York hedge fund founder Kamensky sentenced to prison in Neiman Marcus fraud
By Jonathan Stempel
Reuters
NEW YORK (Reuters) -The New York hedge fund founder who predicted he might go to jail for corrupting the sale of some assets during the bankruptcy of Neiman Marcus was sentenced on Friday to six months in prison.
Daniel Kamensky, 48, of Roslyn, New York, had pleaded guilty in February to bankruptcy fraud for pressuring Jefferies Financial Group not to bid for securities belonging to the luxury retailer s creditors so his now-closed Marble Ridge Capital LP could buy them at a lower price.
U.S. District Judge Denise Cote in Manhattan said she found Kamensky deeply remorseful, but said he came undone from the pressures of running Marble Ridge.