(Forbes) Federal prosecutors in Manhattan on Wednesday unsealed a criminal complaint that claimed a hedge fund manager raised $20 million from a New York City correctional officers union through kickbacks.
Murray Huberfeld, who has been linked to Platinum Partners, was arrested at his home on Wednesday morning. Platinum Partners is a $1.3 billion hedge fund firm built by Mark Nordlicht. U.S. Attorney Preet Bharara claims Platinum Partners and Huberfeld are mired in a swamp of dirty transactions where union money, political donations and Wall Street sometimes intersect. Bharara also claims that Huberfeld is a founder and part owner of Platinum Partners and that he may have been playing a leading role at Platinum Partners that the hedge fund firm had not publicly acknowledged.
