New York hedge fund founder charged with fraud, extortion tied to Neiman Marcus bankruptcy


NEW YORK (Reuters) – The founder of a New York hedge fund was criminally charged on Thursday over an alleged scheme to pressure a rival not to bid for assets related to Neiman Marcus’ bankruptcy so he could buy them at a lower price, the U.S. Department of Justice said on Thursday.

Daniel Kamensky, the principal of Marble Ridge Capital, which has more than $1 billion of assets, was charged with securities fraud, wire fraud, extortion and obstruction of justice, the Justice Department said.

Source: reuters.com

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