Several New York hedge funders have been arrested and charged with $1 billion fraud

[jpak]

Source: Business Insider

NEW YORK — The founder of the New York-based hedge fund Platinum Partners was arrested Monday as prosecutors unveiled an indictment charging him and six others with participating in an approximately $1 billion fraud.

Mark Nordlicht, Platinum's founding partner and chief investment officer, was taken into custody at his New Rochelle, New York, home in connection with charges contained in an indictment filed in federal court in Brooklyn.

Others arrested included David Levy, Platinum's cochief investment officer, and Uri Landesman, the former president of the firm's signature fund, FBI spokeswoman Adrienne Senatore said.

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Read more: http://www.businessinsider.com/platinum-partners-mark-nordlicht-arrested-on-alleged-1b-fraud-2016-12

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Lock 'em Up

yup

[secondwind]

1. Round them up and lock them up... I hope to see more of this on DU K&R

[Angry Dragon]

18. yes

[LittleGirl]

2. really? That's so cool!

lock 'em up! Yeah.

[Javaman]

3. the orange jerk will probably pardon them. nt

[True_Blue]

10. My thoughts exactly

[Auntie Bush]

4. Trump will probably add them to his cabinet when they get out of jail just as

Soon as he gets an opening or fires someone.

[hughee99]

5. If they ripped off a bunch of rich people, they might do some jail time.

If they ripped off a bunch of "regular" people or pension funds, I'll bet they get a slap on the wrist.

[Thav]

12. Slap on the wrist?

I think you misspelled "bonus."

[AngryAmish]

14. They ripped off some charities also

This is part of the investigation into the unions and diBlasio and NY Working Families Party.

[hatrack]

6. Massive Wall Street fraud? No!

Shocked, shocked.

[Raster]

7. Too bad Robert Mercer wasn't one of the ones arrested!

https://en.wikipedia.org/wiki/Robert_Mercer_(businessman)

[hatrack]

9. Or ripped off . . .

.

[JudyM]

8. Poor shlubs. Apparently their connections weren't good enough to prevent prosecution.

[ffr]

11. Last time in the next 4 years we'll see that headline.

Lock those market gamers up!

[bucolic_frolic]

13. Chump Change

They should go after the big players. This kind of stuff, timing and all,
is just meant for public consumption, to assuage the outrage.

Meanwhile, the biggest crooks go unscathed.

[C Moon]

15. They are so daring with this kind of thing, it makes me wonder how many get away with it.

[jmowreader]

16. Please...please...please...

Let Trump be involved in this!

[Leith]

17. I Thought Sure That the Post Was Going to Say

"Said no headline ever"

I'm glad these thieves were caught. It's a good start.