Hedge Fund Never Wanted $20 Million Investment It (Allegedly) Bribed Someone To Get

Platinum Partners would really like to disassociate itself with certain investors right now.
Rob Lavinsky, iRocks.com – CC-BY-SA-3.0 [CC BY-SA 3.0], via Wikimedia Commons

Rob Lavinsky, via Wikimedia Commons

I mean, if there’s going to be a fuss made about that time that the New York City Correction Officers’ Benevolent Association invested $20 million in Platinum Partners after certain promises about certain amounts of cash allegedly delivered in leather bags to certain now-former union leaders, then Platinum Partners will just give the money back. And not only to show certain judges that it can.

Platinum Partners is considering buying out a $20 million investment from the New York City correction officers’ union, weeks after a former executive at the hedge fund and the union’s ex-president were charged in an alleged bribery scheme….

“I really feel that their involvement at this time is disadvantaging all investors going forward,” Mr. Nordlicht said on the call, referring the union.

Platinum Partners May Buy Out NYC Correction Officers’ Union Investment [WSJ]