NEW ORLEANS--(EON: Enhanced Online News)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Platinum Partners.
On December 19, 2016, the founder of Platinum Partners, Mark Nordlicht, and seven executives and affiliates were arrested and charged with participating in an approximately $1 billion fraud. The indictment states that, since 2012, Nordlicht and his colleagues schemed to defraud Platinum investors by overvaluing illiquid assets held by its flagship fund, which caused a “severe liquidity crises” that Platinum tried to remedy through insider loans and new sales to repay increasingly worried investors. The indictment further alleges that, in 2014, the former CEO of Black Elk Energy Offshore Operations LLC, an energy company that was controlled by Platinum from 2010 to 2015, Jeffrey Shulse, helped Platinum usurp assets owed to third-party bondholders of Black Elk.
The U.S. Securities and Exchange Commission filed a parallel civil action on December 19, 2016.
If you invested in Platinum Partners and/or held bonds in Black Elk, and have suffered losses, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.