Skip to main content

Ex-Union Boss Resorts To Fundraising Methods Beyond Hedge-Fund-Bribes-In-Handbag

Plus, it’s unclear whether the $100K Norman Seabrook’s family needs would fit into a Ferragamo.
  • Author:
  • Updated:


In his two decades leading one of New York City’s most powerful unions, had several ways to support his family. There was his salary as a city corrections officer, which had jumped considerably during his tenure thanks to his negotiating talent. There was his union stipend on top of that salary. And on those occasions when that $300,000 per annum proved insufficient, he could always use his control over the union’s budget and pension to extract a few kickbacks from those who wished (at the time) to manage that money. At least, that’s what a jury said last week.

Given that unpleasant turn of events, which come with as many as 20 years in jail, and the collapse of the (allegedly!) fraudulent hedge fund paying those kickbacks, Seabrook and his family no longer have recourse to Ferragamo handbags filled with $60,000. Plus, a purse may no longer be sufficiently sizeable to meet their growing needs. So they’re resorting to a bit of online hat-passing.

Norman Seabrook, the former president of the New York Correction Officers’ Benevolent Association, was found guilty by a jury on August 15 for accepting kickbacks in exchange for investing COBA funds with hedge fund Platinum Partners. The next day, son-in-law Mike Peluso created a GoFundMe webpage with the stated goal of raising $100,000 for his Seabrook's family.

“Please let’s stand together, not as a union but as a family and support in this time of need,” Peluso wrote on the GoFundMe webpage. “All funds raised will be used for the hardship to his family and the funds will be distributed in the form of a certified bank check.”

So far, alas, they’ve barely raised enough to stuff a Ferragamo wallet, let alone the Ferragamo duffle bag’s worthy they’re seeking.

Seabrook’s Son-In-Law Starts Crowdfunding Campaign After Guilty Verdict [Institutional Investor]
Norman Seabrook Guilty of Bribery in Trial That Cast Shadow Over De Blasio [NYT]
Can $60,000 Fit in a Designer Bag? That’s the Big Question in a Corruption Case [NYT]



Conflicts Of Interest Continue To Pay Off For Disgraced Hedg e Fund Manager

Where would Murray Huberfeld be without them? Either in prison for a lot longer, or not in prison at all.

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.

Don’t Even Think Of Delivering Norman Seabrook’s Alleged Bribes In A Coach Bag

Even the deBlasio administration would like you to keep the class in NYC graft.

By EncMstr (Own work) [GFDL, CC-BY-SA-3.0 or CC BY-SA 2.5-2.0-1.0], via Wikimedia Commons

Judge Now Cool With Taking Allegedly Ethically Challenged Hedge Fund At Its Word

Platinum Partners lawyer would like her honor to know that his client has some him.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Judge Decides He Won’t Resentence His Friend’s Son’s Former Hedge Fund Colleague

On second glance, yea, Alvin Hellerstein understands why you might think there’s a conflict of interest here.