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Ex-platinum Coo Says He Helped Hide Dire Finances Of Hedge Fund

by bloomberg.com posted 2weeks ago 15 views
Mark Nordlicht, co-founder of Platinum Partners LLP, exits federal court in the Brooklyn, New York in 2017. A former executive at the defunct hedge fund Platinum Partners said he helped his colleagues hide the company’s true financial condition from investors as they increasingly sought to pull their money out of the firm before it collapsed. Naftali Manela, Platinum’s former chief operating officer and one of two ex-executives cooperating with prosecutors, told a federal jury that they masked the firm’s struggle for cash by having one fund lend to another or paying back some investors before others.

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