U.S. Judge Opts for Home Confinement for Hedge Fund Co-Founder Due to Poor Prison Conditions

In a unique court decision, U.S. District Judge Brian Cogan has sentenced Murray Huberfeld, co-founder of the troubled hedge fund Platinum Partners, to six months of home confinement. The leniency stems from concerns voiced by Judge Cogan about the notorious conditions at the Metropolitan Detention Center (MDC) in Brooklyn. Huberfeld was implicated in a bribery scandal and had already agreed to forfeit $19 million in ill-gotten gains. Judge Cogan stated that, though Huberfeld’s actions merited a harsher sentence, the appalling state of MDC influenced his decision to avoid carceral time. For a more detailed account, click here.