Former Simpson Thacher lawyer who became founder of $ 1 billion Marble Ridge Capital LP, Daniel Kamensky, has been sentenced to jail after pleading guilty to bankruptcy fraud. U.S. District Judge Denise L. Côté sentenced him to six months after Kamensky admitted to pressuring Jefferies Financial Group not to bid on assets sold by Neiman Marcus as part of the ‘insolvency proceedings.
As reported by Law360, Justice Côté said Kamensky was a “good man” but his behavior was “deeply disturbing”. During the sentencing, she also pointed out Kamensky’s attempt to cover up his actions:
The judge also credited Kamensky’s explanation that his conduct in pressuring Jefferies not to make an offer for the retailer’s MyTheresa e-commerce assets – and later asking his contacts to lie – was a wave of panic.
“He came undone. He tried to control what he couldn’t control and in doing so he betrayed his profession, ”the judge said. “He tried to make another person lie for him. He tried to obstruct justice.
Kamensky apologized to the court and his family for his behavior:
“There is no excuse for my behavior and I am deeply sorry and embarrassed for my conduct,” he said. “I knew other bidders were coming in. Whatever triggered my reaction, I will never know. This does not excuse my conduct – what I did was wrong.
Kamensky will go into custody by June 18.
Kathryn Rubino is editor-in-chief at Above the Law and host of The Jabot podcast. AtL tipsters are the best, so please tune in with her. Feel free to email her with any tips, questions or comments and follow her on Twitter (@ Kathryn1).