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So Platinum Partners Maybe Defrauded An Energy Company All The Way To Bankruptcy Court

Was that wrong? Should they not have done that?
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Rob Lavinsky, – CC-BY-SA-3.0 [CC BY-SA 3.0], via Wikimedia Commons

via Wikimedia Commons

One day, the morality play that is Platinum Partners will come to an end. From its high-flying, 650%-returning-on-controversial-energy-investments days to its current embroiled-in-a-pay-to-play-scandal, attempting-to-prove-it-still-has-a-nickel-in-the-bank, getting-raided-by-the-FBI, barely-solventbankruptcy present, the whole sorry tale will be history. And wouldn’t it be perfectly fitting for this Shakespearean drama to end with our protagonist finally felled by that with which it made its name in the first place?

Troubled hedge fund manager Platinum Partners was ordered by a U.S. bankruptcy judge to temporarily freeze approximately $118 million after a lawsuit Wednesday accused it of illegally stripping key assets from a now-collapsed energy company….

U.S. bankruptcy judge Marvin Isgur wrote in his order Wednesday that "the allegations ... reflect a pattern of fraud and abuse by Platinum" and there is a "reasonable probability that fraud has occurred."

Platinum assets frozen on allegations of ‘plundering’ over $200 million [Reuters]
Hedge fund tied to jail guard’s union in even more trouble [N.Y. Post]


(Rob Lavinsky/ via Wikimedia Commons)

Platinum Partners Executives Become Most Predictable Arrests Ever

Rule number one of running a hedge fund like a Ponzi scheme: Don't.

This would be a start. By The original uploader was Hephaestos at English Wikipedia (Transferred from en.wikipedia to Commons.) [Public domain], via Wikimedia Commons

Platinum Partners Not Exactly Making Friends In High Places

New York State not waiting for Platinum's prayers to be answered.

Rob Lavinsky, – CC-BY-SA-3.0 [CC BY-SA 3.0], via Wikimedia Commons

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.


Det. Whitney Tilson Would’ve Caught These Platinum Scammers Years Ago

"Just another thing ma'am...Your returns, they're nonsense."

Rob Lavinsky, – CC-BY-SA-3.0 [CC BY-SA 3.0], via Wikimedia Commons

Things Are Going To Get A Lot Worse For Platinum Partners Before They Get Better

Or they'll just keep getting worse and never get better. It's one of these two things.