Platinum Partners Execs Charged in $1B 'Mini-Madoff' Fraud

From USA Today

Platinum Partners hedge fund founder Mark Nordlicht and four others with ties to the New York City-based hedge fund were charged Monday in a $1 billion securities fraud indictment, one of the largest alleged scams since Bernard Madoff's notorious Ponzi scheme.

Brooklyn federal prosecutors who announced the eight count indictment said two additional suspects were indicted for their alleged roles in a $50 million bond fraud involving Black Elk Energy, one of Platinum Partners' largest portfolio companies.

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