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You are here News Domestic (USA) New York hedge fund founder Kamensky sentenced to prison in Neiman Marcus fraud

New York hedge fund founder Kamensky sentenced to prison in Neiman Marcus fraud

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NY hedge fund founder sented to [rison for fraud

The New York hedge fund founder who predicted he might “go to jail” for corrupting the sale of some assets during the bankruptcy of Neiman Marcus was sentenced on Friday to six months in prison.

Daniel Kamensky, 48, of Roslyn, New York, had pleaded guilty in February to bankruptcy fraud for pressuring Jefferies Financial Group not to bid for securities belonging to the luxury retailer's creditors so his now-closed Marble Ridge Capital LP could buy them at a lower price.

U.S. District Judge Denise Cote in Manhattan said she found Kamensky "deeply remorseful," but said he "came undone" from the pressures of running Marble Ridge.

"He betrayed his profession, his duty to others, his relationships," she said. "He broke the law."

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