{"id":30475,"date":"2012-08-02T08:17:14","date_gmt":"2012-08-02T12:17:14","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=30475"},"modified":"2012-08-02T08:25:22","modified_gmt":"2012-08-02T12:25:22","slug":"ny-hedge-fund-affiliate-accused-of-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2012\/ny-hedge-fund-affiliate-accused-of-fraud.html","title":{"rendered":"NY Hedge Fund Affiliate Accused Of Fraud"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/08\/njsrecawardmod.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-30479\" title=\"njsrecawardmod\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/08\/njsrecawardmod-218x300.jpg\" alt=\"\" width=\"153\" height=\"210\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/08\/njsrecawardmod-218x300.jpg 218w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/08\/njsrecawardmod.jpg 313w\" sizes=\"auto, (max-width: 153px) 100vw, 153px\" \/><\/a>New York (HedgeCo.Net) &#8211; Platinum Partners, an affiliate of NY hedge fund manager Platinum Management has been accused of fraud by Hartz Solar Hamilton LLC., According to new\u00a0Jersey\u00a0website NorthJersey.com.<\/p>\n<p>Hartz filed suit in U.S. District Court (Newark), saying that the hedge fund affiliate\u00a0reneged on a pledge to buy energy credits (Solar Renewable Energy Credits or\u00a0SRECs) from the\u00a0company&#8217;s South Jersey solar project at a cost of $230,000.<\/p>\n<p>&#8220;This announcement resulted in a dramatic drop in SREC prices,&#8221; the suit alleges.<\/p>\n<blockquote><p>&#8220;A SREC is a credit created to reflect the generation of a megawatt of solar energy. SRECs are traded by power companies and others required to generate a certain proportion of their energy from sustainable sources, and who are allowed to buy SRECs in place of actually creating the energy to help fulfill their sustainable energy requirement.&#8221;<\/p><\/blockquote>\n<p>Hartz accuses Platinum Partners of breach of contract, fraud and unjust enrichment, and\u00a0seeks compensation and damages.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Platinum Partners, an affiliate of NY hedge fund manager Platinum Management has been accused of fraud by Hartz Solar Hamilton LLC., According to new\u00a0Jersey\u00a0website NorthJersey.com. Hartz filed suit in U.S. District Court (Newark), saying that the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-30475","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=30475"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30475\/revisions"}],"predecessor-version":[{"id":30477,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30475\/revisions\/30477"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=30475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=30475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=30475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}