first_imgNEW YORK (AP) — A hedge fund founder has pleaded guilty to defrauding Neiman Marcus creditors by pressuring an investment bank not to bid against his hedge fund to buy securities from them. Marble Ridge Capital founder Daniel Kamensky pleaded guilty Wednesday to bankruptcy fraud in Manhattan federal court. Sentencing was set for May 7 for the 48-year-old Roslyn, New York, resident. Manhattan U.S. Attorney Audrey Strauss said Kamensky abused his position as a committee member in the Neiman Marcus bankruptcy to corrupt the asset distribution process to take extra profits for himself and his hedge fund. Authorities say he coerced a competitor to withdraw a bid for bankruptcy estate assets that was higher than his hedge fund would offer. Kamensky’s lawyer says his client deeply regrets his conduct.last_img