![]() He got the Platinum receivership appointment the same year Governor Andrew Cuomo picked him to examine all state grants awarded under a controversial program known as Buffalo Billion. Schwartz, a former prosecutor under Rudy Giuliani, has been appointed as overseer of many cases, including as a monitor in federal cases against General Motors and Deutsche Bank. His job was to then sort out what victimized investors would get out of what was left. When the firm collapsed, the SEC said, the hedge fund formerly claiming $1.3 billion in assets had only $609 million in the bank.īrooklyn Federal Court judge Dora Irizarry appointed Schwartz as receiver to inventory assets still under Platinum’s control. The SEC charged Platinum with operating a Ponzi scheme, hiding huge losses from investors and in desperation using one investor’s funds to pay off others to keep the scheme afloat. ![]() The conflict-of-interest issue arose in 2017 when Schwartz was acting as court-appointed receiver in a civil case filed by the SEC against a hedge fund known as Platinum Management. On Wednesday, THE CITY disclosed Schwartz’s appointment - and his long-standing affiliation with Lenora Fulani, an activist who’s been accused of anti-Semitic rhetoric in the past and more recently has attacked Mayor Bill de Blasio’s solutions for fixing NYCHA. The federal monitor set to oversee the New York City Housing Authority previously resigned as receiver in a white-collar fraud case after the Securities and Exchange Commission accused him of a conflict of interest and running up fees, THE CITY has learned.īart Schwartz, a former federal prosecutor and head of the investigations firm Guidepost Solutions, was set to be appointed NYCHA’s monitor Monday by the Justice Department, as part of an agreement to settle federal charges of mismanagement and cover-up at the authority.
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