“As alleged, Nordlicht and his cohorts engaged in one of the
largest and most brazen investment frauds perpetrated on the investing public,
earning Platinum more than $100 million in fees during the charged
conspiracy. Platinum Partners purported
to be a standard bearer in the hedge fund industry, reporting annual average
returns of more than 17 percent since inception in 2003. In reality, their returns were the result of
the overvaluation of their largest assets, which eventually led to Nordlicht
and his co-conspirators operating Platinum like a Ponzi scheme, where they used
loans and new investor funds to pay off existing investors,” stated United
States Attorney Capers.
Army Core of Engineers: Kennewick
Man
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