An investigation for investors in Platinum Partners Value Arbitrage Fund and the Platinum Partners Credit Opportunities Fund over potential securities laws violations by Platinum Partners LP and certain of its directors and officers was announced.
Those who invested in the Platinum Partners Value Arbitrage Fund and/or the the Platinum Partners Credit Opportunities Fund have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Platinum Partners’ Funds regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On June 8, 2016 news outlets reported that a manager at Platinum Partners, Murray Huberfeld, was arrested for allegedly bribing a union leader in exchange for an investment in Platinum Partners. According to the criminal complaint, Huberfeld is a founder and part owner of Platinum Partners and he may have been playing a leading role at Platinum Partners that was not publicly acknowledged by the firm.
On June 22, 2016, agents from the FBI and the U.S. Postal Inspection Service reportedly raided the headquarters of Platinum Partners.
On July 25, 2016, it was reported that federal agents are not only investigating alleged bribery at the fund, but are investigating the fund for fraud. According to the report, federal agents are probing whether Platinum Partners misstated values of some of its holdings, probing the firm’s service providers, including auditors who certified its figures, and probing whether, before Platinum Partners suspended redemptions of its main fund, Platinum Partners Value Arbitrage Fund, Platinum Partners had been paying some reported investment gains to exiting investors with money from incoming investors.
Those who invested in the Platinum Partners Value Arbitrage Fund and/or the the Platinum Partners Credit Opportunities Fund have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
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