Roslyn man pleads guilty to fraud in connection to Neiman Marcus' bankruptcy

Hedge fund founder Daniel Kamensky admitted to pressuring an investment bank to not bid against him to buy securities from Neiman Marcus.

News 12 Staff

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Feb 4, 2021, 10:51 AM

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Updated 1,416 days ago

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A Roslyn man has pleaded guilty to fraud in connection with Neiman Marcus’ bankruptcy.

Hedge fund founder Daniel Kamensky admitted to pressuring an investment bank to not bid against him to buy securities from Neiman Marcus.

Prosecutors say he also abused his position to manipulate the distribution of assets, taking extra profits for himself.

Under the plea deal, Kamensky is expected to get 12-18 months in in prison.

Kamensky will be sentenced in May.

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