Hedge Fund Manager Pleads Guilty to Wire Fraud Benefiting NYC Corrections Union Boss

Murray Huberfeld had something on his mind other than front row seats at New York Knicks home games. That’s why he’s headed for prison. On May 25, Huberfeld, founder and head of a now-defunct hedge fund, pleaded guilty in Manhattan federal court to wire fraud conspiracy in connection with his payment of a $60,000 bribe through an intermediary to Norman Seabrook, deposed longtime president of New York City’s Correction Officers Benevolent Association (COBA), which represents employees at the sprawling Rikers Island jail complex. In exchange for the bribe, Seabrook allegedly had steered $20 million in COBA pension funds to the hedge fund, known as Platinum Partners. Huberfeld is scheduled for sentencing on September 14. Seabrook is set to go on trial on July 30.

Union Corruption Update covered this story at length back in June 2016. Norman Seabrook, who ran the 9,000-member Correction Officers Benevolent Association for more than two … Read More ➡