Platinum Judge Nixes Valuation Fraud Claims At Trial

Law360 (June 17, 2019, 5:23 PM EDT) -- In a blow to the government's case, the judge overseeing the Platinum Partners trial has banned prosecutors from arguing that three accused executives fraudulently overvalued the funds' illiquid assets, citing a lack of evidence.

U.S. District Judge Brian Cogan's order filed on Monday set up an obstacle for prosecutors in the home stretch of the fraud trial of Platinum co-founder Mark Nordlicht, former co-Chief Investment Officer David Levy and former Chief Financial Officer Joseph SanFilippo.

The three are accused of defrauding investors in the firm's flagship fund, the Platinum Partners Value Arbitrage fund, in part by covering up a liquidity crisis...

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Attached Documents



Case Information

Case Title

Subscribers Only

Case Number

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New York Eastern

Nature of Suit

Date Filed

December 14, 2016

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