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Platinum Exec Says Co-Founder Misled Investors

Law360, New York (May 17, 2019, 7:39 PM EDT) -- A former Platinum Partners executive on Friday told a New York federal jury that the firm’s co-founder and others misled potential investors about the financial health of Platinum’s main fund while the hedge fund manager was struggling to pay back tens of millions of dollars to its limited partners.

Andrew Kaplan, Platinum's former chief marketing officer, took the witness stand in Brooklyn federal court for his second day of testimony in the trial of three top Platinum executives accused of defrauding investors in the company’s flagship fund, Platinum Partners Value Arbitrage Fund LP.

Kaplan described how investor redemption requests began to...

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