Dan Kamensky

Dan Kamensky, founder of hedge fund Marble Ridge Capital, was arrested and charged with fraud, extortion and obstruction of justice in connection to Neiman Marcus's bankruptcy bid, the US Department of Justice announced Thursday. The charges are part of an alleged bid-rigging scheme tied to the retailer's bankruptcy. According to the Justice Department, Kamensky sought to suppress a rival bid for Neiman's MyTheresa assets so that Marble Ridge could secure the shares for a lower price. Then he attempted to coerce the rival bidder to cover up the alleged scheme, the DOJ said. Kamensky has been charged with one count of fraud in the offer or sale of securities, one count of wire fraud, one count of extortion and bribery in connection with a bankruptcy and one count of obstruction of justice. Each count carries a maximum sentence ranging from 5 to 20 years in prison. Neiman Marcus filed for bankruptcy in May 2020. MyTheresa, an e-commerce business, was acquired by Neiman in 2014.