Marble Ridge Capital Founder Admits to Neiman Fraud (Correct)

Marble Ridge Capital founder Dan Kamensky pleaded guilty to fraud, five months after he was charged with abusing his position on a Neiman Marcus Group Inc. bankruptcy committee to purchase assets at an artificially low price.

Kamensky, 48, of Roslyn, New York, was charged by federal prosecutors in Manhattan in September with pressuring a rival to abandon a higher bid for Neiman Marcus assets so Marble Ridge could get them cheaper. The luxury department store chain filed for Chapter 11 bankruptcy protection in May and Kamensky was a member of a committee of unsecured creditors.

“Mr. Kamensky has admitted what ...