Seven current and former executives of Platinum Partners, which ran the hedge fund that produced the downfall of former Correction Officers Benevolent Association President Norman Seabrook, were indicted last week on Federal fraud and conspiracy charges.
Mr. Seabrook faces separate charges of accepting a $60,000 bribe from a Platinum principal, Murray Huberfeld, in return for investments of union funds totaling $20 million during 2014. After his arrest in June, the city suspended him from his job as a Correction Officer, meaning that after 21 years as president, he could no longer run the union.
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