| Hedge Fund Fraudster
Kamensky Gets 6 Months in Otisville for
Extortion Citing Pantry
By Matthew
Russell Lee, Patreon
Podcast
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
May 7 – On
September 3, 2020 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.
Now on May
7, 2021, after Kamensky spoke
about the soup kitchen or food
pantry he's volunteered in,
The Inn, he got a sentence of
six months in prison
(Otisville requested) followed
by six months of home
detention, no supervision
after that. Podcast here.
Inner City Press will have
more on this.
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, 21-cr-67
(Cote).
***
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