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Dec

19

Platinum Hedge Fund Executives Charged With $1 Billion Fraud

By Tony Seruga

Robert Capers, the United States attorney in Brooklyn, arriving at federal court on Monday to announce the indictment of Mark Nordlicht, the founder and chief investment officer of Platinum Partners, and six other individuals on securities fraud, investment adviser fraud and conspiracy. CreditAndrew Kelly/Reuters

A founder of the New York hedge fund Platinum Partners and six others were arrested on Monday morning on charges relating to a $1 billion fraud.

The men were charged with securities fraud and investment adviser fraud in a $1 billion scheme in which executives used new investor money to pay older investors, according to an unsealed indictment filed in Federal District Court in Brooklyn…

Platinum Hedge Fund Executives Charged With $1 Billion Fraud

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