Six Months in Prison for Hedge Fund Investor Daniel Kamensky
Posted on 05/10/2021
Daniel Kamensky (age 48) is the founder of hedge fund Marble Ridge Capital and a former bankruptcy attorney. Kamensky was sentenced to 6 months in prison after pleading guilty to one count of bankruptcy fraud on February 3, 2021. U.S. Attorney Audrey Strauss said in a press release: “Daniel Kamensky committed bankruptcy fraud – undermining the integrity of bankruptcy proceedings and violating his fiduciary responsibility – in an effort to take extra profits for himself and his hedge fund. As he himself predicted, this fraud has now landed Daniel Kamensky in prison.”
This was for Kamensky engaging in fraud and extortion to pressure a rival bidder to abandon its higher bid for assets in connection with Neiman Marcus’s bankruptcy proceedings so that Marble Ridge could obtain those assets for a lower price.