| In SDNY Hedge Funder
Kamensky Pleads Guilty After Was Bailed Out
For $250000
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
Feb 3 – On September 3
SDNY prosecutors announced
"that DANIEL
KAMENSKY, the founder and
manager of New York-based
hedge fund Marble Ridge
Capital (“Marble Ridge”), was
charged in a Complaint in
Manhattan federal court with
securities fraud, wire fraud,
extortion, and obstruction of
justice. KAMENSKY’s
alleged criminal acts
occurred in connection
with his scheme to pressure a
rival bidder to abandon its
higher bid for assets in
connection with Neiman
Marcus’s bankruptcy
proceedings so that Marble
Ridge could obtain those
assets for a lower price."
Inner City Press live tweeted
the presentment, about two
hours later, below. The
prosecutors agreed that
Kamensky could be released the
same day on $250,000 bond.
Here's from that Kamensky
proceeding:
AUSA: Surrender
all travel documents,
restricted to SDNY, EDNY, NDNY
and South Florida with
pre-approval. No contact with
witnesses outside of Marble
Ridge except in presence of
counsel, and with those
inside, nothing about this
case
AUSA: Kamensky to
be released today, with
co-signers to be interviewed
by Sept 10. $250,000 bond.
Judge Cott:
Preliminary hearing?
Retained
counsel: Waive to 30th day.
Now on February
3, a guilty plea "to one count
of bankruptcy fraud in
connection with his scheme to
pressure a rival bidder to
abandon its higher bid for
assets in connection with
Neiman Marcus’s bankruptcy
proceedings so that Marble
Ridge could obtain those
assets for a lower
price. KAMENSKY pled
guilty before United States
District Judge Denise Cote...
it carries a maximum sentence
of five years in prison.
Sentencing has been scheduled
for May 7, 2021."
The case is still
US v. Kamensky, 20-mj-9381
(Cote).
***
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