Platinum Management (NY) LLC and/or Platinum Credit Management, L.P. – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Platinum Management (NY) LLC, Platinum Credit Management, L.P., et. al
The Securities and Exchange Commission announced that it charged the founder of Platinum Partners and the investment managers of two of its flagship hedge funds with conducting a fraudulent scheme to inflate asset values and illicitly move investor money to cover losses and liquidity problems.
According to the SEC’s complaint, filed in federal court in the Eastern District of New York, Mark Nordlicht, Platinum Management (NY) LLC (Platinum Management), and Platinum Credit Management LP (Platinum Credit) overstated the value of an oil company that was among the firm’s largest assets, concealed a growing liquidity crisis by transferring money between the funds, making preferential redemptions to favored investors, and using misrepresentations to attract new investors to the struggling funds. The SEC’s complaint further alleges that Nordlicht schemed with two colleagues and an executive at the Platinum funds’ other major oil investment to rig a noteholder vote in order to divert almost $100 million from that company to help boost the Platinum funds.
In addition to Nordlicht, Platinum Management, and Platinum Credit, the SEC complaint charges several other individuals for their roles in the alleged schemes: David Levy, Daniel Small, Uri Landesman, Joseph Mann, Joseph SanFilippo, and Jeffrey Shulse.
Investors in Platinum Management (NY) LLC and/or Platinum Credit Management, L.P. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Platinum Management (NY) LLC and/or Platinum Credit Management, L.P., Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in Platinum Management (NY) LLC and/or Platinum Credit Management, L.P. and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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