Platinum Partners to shut main hedge fund following arrest of associate | Reuters

Department of Justice complaint against Huberfeld and Seabrook, an intermediary gave Seabrook a Salvatore Ferragamo bag filled with $60,000 in cash as the first of what was intended to be several kickbacks for ultimately steering $20 million of union money into Platinum’s coffers.

Huberfeld is a longtime associate of Platinum head Mark Nordlicht. But its winning strategy of lending to troubled companies carries risks that many institutional investors would just as soon not take, according to a Reuters investigation earlier this year.

The development comes after the arrest last week of Murray Huberfeld, who was accused of bribing Norman Seabrook, the president of the New York City prison officers’ union.

New York-based Platinum told investors on a conference call on Tuesday that recent negative media attention and requests for the return of capital had forced it to begin the liquidation of its more than $700 million Platinum Partners Value Arbitrage Fund, according to a person familiar with the situation who requested anonymity because the information is private.

The firm is also considering shutting its Platinum Partners Credit Opportunities Fund, the person said. The Centurion Credit Management hedge funds he ran were also taken over by Nordlicht and Platinum in 2011. hedge fund Platinum Partners is returning the majority of its assets to clients following the arrest of a longtime associate on allegations he orchestrated a $60,000 cash bribe to secure an investment from a New York city union.

Huberfeld, through an attorney, declined to comment on the charges against him and the Platinum news. It has averaged annual returns of more than 13 percent, according to the private fund data seen by Reuters.

Nordlicht told investors on the call Tuesday that a decision on whether to shut the credit fund would come in a matter of weeks, the source said..

For Reuters’ Special Report on Platinum, click here

The still-open credit fund has also never lost over a calendar year since inception in 2005. An external spokesman for Platinum did not respond to requests for comment. News of the liquidation was first reported by the Wall Street Journal.

Nordlicht said on the conference call that the charges against Huberfeld were unfounded, the person said.

The soon-to-shut Value Arbitrage fund gained nearly 8 percent in 2016 through April, according to a private HSBC Alternative Investment Group report seen by Reuters. That strategy recently controlled more than $500 million, the balance of Platinum’s about $1.35 billion in overall assets as of April.

According to a U.S. He was an early backer of Platinum and remains an investor in the firm. The fund produced average annual returns of more than 17 percent since inception in 2003 with no negative years.

Founded in 2003, Platinum has racked up profits that are the envy of the hedge fund industry.

NEW YORK U.S

Sports Persuasive Speech Topics That are Informative and Engaging

This is because of the hype surrounding sports and the glamor and wealth linked to it. Unlike ordinary speech where the orator simply gives information on a subject; in a persuasive speech, the orator has a viewpoint (pro or against the subject) and tries to prove why it is right or wrong. Secondly, we all have some information about sports and are at least aware of even the remotest of sports.. A persuasive speech is meant for persuading the audience to have a specific viewpoint. Among the different speech topics today, sports is one of the most popular ones

Maria Bartiromo | Fox News

In 1999, Joey Ramone of the Ramones rock band wrote a song about her, titled “Maria Bartiromo,” which was on his final album.

. She has been published in the Financial Times, Newsweek, Town and Country, Registered Rep and the New York Post.

She graduated from New York University, where she studied journalism and economics. In 1995, she became the first journalist to report live from the floor of the New York Stock Exchange on a daily basis. She later won a second Emmy for her 2009 documentary, “Inside the Mind of Google,” which aired globally on CNBC. Bartiromo won a Gracie Award for “Greenspan: Power, Money & the American Dream,” also broadcast globally on CNBC.

In 2009, the Financial Times named her one of the “50 Faces That Shaped the Decade,” and she was the first female journalist to be inducted into the Cable Hall of Fame Class of 2011. Bartiromo is the author of several books, including The Weekend That Changed Wall Street, published by Portfolio / Penguin, and The 10 Laws of Enduring Success, published by Random House; both were released in 2010.

Bartiromo is a member of the Board of Trustees of New York University, the Board of Directors of the Young Global Leaders of the World Economic Forum, the Council on Foreign Relations, the Economic Club of New York and the Board of Directors of The National Italian American Foundation (NIAF).

Maria Bartiromo joined FOX Business Network (FBN) as Global Markets Editor in January 2014.  She is the anchor of Mornings with Maria on FBN (weekdays from 9-11 AM/ET) and Sunday Morning Futures with Maria Bartiromo (Sundays at 10 AM/ET) on FOX News Channel (FNC).

Bartiromo has covered business and the economy for more than 25 years and was one of the building blocks of business cable network CNBC. She also served as an adjunct professor at NYU Stern School of Business for the fall semesters of 2010 through 2013.

Bartiromo has been a pioneer in her industry. Bartiromo has written weekly columns for Business Week and Milano Finanza magazines, as well as monthly columns for Individual Investor, Ticker and Reader’s Digest magazines. Her first Emmy was for her 2008 News and Documentary coverage of the 2007-2008 financial collapse and her “Bailout Talks Collapse” coverage was broadcast on NBC Nightly News. She joined CNBC in 1993 after five years as a producer, writer and assignment editor with CNN Business News, where she wrote and produced some of CNN’s top business programs.

She has received numerous prestigious awards, including two Emmys and a Gracie Award. During her 20-year tenure as the face of CNBC, she launched the network’s morning program, Squawk Box; anchored The Closing Bell with Maria Bartiromo; and was the anchor and managing editor of the nationally syndicated On the Money with Maria Bartiromo, formerly The Wall Street Journal Report with Maria Bartiromo.

She has become part of pop culture during her career, having had cameos in several motion picture movies, playing herself in “Wall Street Two” with Michael Douglas and “Arbitrage” with Richard Gere, among others