Hedge fund co-founder guilty in corruption disguised as Knicks tickets

Only in New York could you disguise a $60,000 invoice as courtside seats to one of the worst teams in the NBA…

The plea followed jurors’ deadlock last Nov 16 on fraud and conspiracy charges against Mr Huberfeld and Norman Seabrook, who led the Correction Officers’ Benevolent Association, the largest US municipal jail union, for more than two decades.

Prosecutors accused Seabrook of accepting a US$60,000 kickback from Mr Huberfeld in exchange for steering US$20 million of union money to invest with Platinum.

They said Mr Huberfeld used a fake invoice to disguise that payment as being for tickets for courtside seats at New York Knicks basketball games.

via The Business Times

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