Murray Huberfeld, a Platinum Partners principal, has pleaded guilty to allegations that he was involved in a wire fraud conspiracy. However, he has not admitted a guilty plea to related to an alleged $1B scam involving his hedge fund.
Huberfeld admitted to misleading his hedge fund when he falsely claimed that a $60K payment was to pay for Knicks tickets when, in truth, it was a bribe to ex-New York City jail union boss Norman Seabrook to invest pension cash.
The money had been issued to fixer Jona Rechnitz. She has since turned government witness in a number of federal corruption probes. The bribe resulted in the Correction Officers Benevolent Association investing $20M in Platinum.