Founded in 2003 by Mark Nordlicht, Platinum Partners was an investment management firm that operated several hedge funds, most notably the Platinum Partners Value Arbitrage Fund (PPVA). The firm was known for its high returns and investments in illiquid and esoteric assets, including oil and gas ventures and life insurance policies. However, in 2016, the firm's offices were raided by the FBI, and its top executives were arrested. Federal prosecutors charged them with running a "Ponzi-like" scheme, overvaluing their illiquid assets to a-ttract new investors, and using new capital to pay off existing investors who sought redemptions. The firm was forced into liquidation, and its founder Mark Nordlicht was convicted in 2019 of securities fraud, wire fraud, and conspiracy.

Founded in

United States