SEC v. Platinum Management (NY) LLC, et al.
Civil Action No. 16-cv-06848 (E.D.N.Y.)

On December 19, 2016, the Securities and Exchange Commission charged the founders of Platinum Partners and the investment managers of two of its flagship hedge funds with conducting a fraudulent scheme to inflate asset values and illicitly move investor money to cover losses and liquidity problems. On the same day, the Court appointed Bart M. Schwartz as Receiver. On July 6, 2017, the Court accepted Bart Schwartz's resignation as Receiver and appointed Melanie L. Cyganowski, former Chief United States Bankruptcy Judge for the Eastern District of New York, as substitute Receiver. See substitute Receiver's website.