Legal filings accuse Marble Ridge founder Kamensky of trying to dissuade Jefferies from submitting a bid on behalf of another client. “Stand DOWN,” Kamensky wrote to Femenia, according to the report submitted by U.S. Trustee Henry Hobbs. “DO NOT SEND IN A BID.” He pressed the matter further on a confrontational phone call.
Femenia flagged the conversation to Jefferies’ general counsel, and they disclosed the discussion to an official creditor committee, which was supervising the sale and where Kamensky was a member.
The panicked money manager called back Femenia a second time, asking him to treat the conversation off the books, and pushed Femenia to change his recollection of their initial chat, according to the report. Unbeknownst to him, Femenia had started recording the call.
“[I]f you’re going to continue to tell them what you just told me, I’m going to jail, OK?” Kamensky said on the call, according to the document. “Because they’re going to say that I abused my position as a fiduciary, which I probably did, right? Maybe I should go to jail. But I’m asking you not to put me in jail.”
This story was provided by Bloomberg News.