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Former Simpson Thacher attorney turned founder of the $1 billion Marble Ridge Capital LP fund, Daniel Kamensky, was sentenced to time in prison after pleading guilty to bankruptcy fraud. U.S. District Judge Denise L. Cote gave him a six-month sentence after Kamensky admitted to pressuring Jefferies Financial Group to not place bids for assets being sold by Neiman Marcus in insolvency proceedings.
As reported by Law360, Judge Cote said Kamensky was a “good man” but his behavior was “deeply disturbing.” In sentencing, she also pointed to Kamensky’s attempt at covering up his actions:
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The judge also credited Kamensky’s explanation that his conduct in pressuring Jefferies not to bid for the retailer’s MyTheresa e-commerce assets — and later asking for his contacts there to lie — was a panic move.
“He came undone. He tried to control what he could not control and in doing so he betrayed his profession,” the judge said. “He tried to get another person to lie for him. He tried to obstruct justice.”
Kamensky apologized to the court and his family for his behavior:
“There is no excuse for my behavior and I am deeply regretful and embarrassed for my conduct,” he said. “I was aware other bidders were going to come in. Whatever triggered my reaction, I will never know. It doesn’t excuse my conduct — what I did was wrong.”
Kamensky will surrender to custody by June 18th.
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).