Marble Ridge Capital founder Dan Kamensky has been arrested by the FBI on federal charges that include securities fraud, extortion and obstruction of justice.
Kamensky allegedly pressured investment bank Jefferies Financial Group into dropping its bid for Neiman Marcus Group shares so that Marble Ridge could buy them at a lower price, according to the U.S. Attorney’s Office for the Southern District of New York.
A Neiman Marcus store in Boston “As alleged, Daniel Kamensky disregarded his fiduciary responsibility to unsecured creditors of Neiman Marcus — and broke the law — when he attempted to coerce a competitor to withdraw a higher bid for assets of the bankruptcy estate,” acting Manhattan U.S. Attorney Audrey Strauss said in a statement.
Click here to read the rest of the article written by Dees Stribling over at Bis Now
