U.S. to charge Platinum Partners founder, others with $1 billion fraud

[December 19, 2016]  NEW YORK (Reuters) - U.S. prosecutors said on Monday that the founder of the New York-based hedge fund Platinum Partners and six others were set to be indicted on charges that they participated in a fraud totaling approximately $1 billion.

Mark Nordlicht, the founder and chief investment officer of Platinum Partners, is among those who will be charged in an indictment set to be unsealed in federal court in Brooklyn, prosecutors said.

(Reporting by Nate Raymond in New York; Editing by Chizu Nomiyama)

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