Jan 15, 2026
- Net worth
- Unknown
- Crimes
- securities fraud, conspiracy
- Convicted of
- Conspiracy to commit securities fraud; securities fraud
- Original sentence
- Time served; $5,000 fine (January 10, 2024)
- Time served
- Time served
Background
David Levy was the Co-Chief Investment Officer of Platinum Partners, a multibillion-dollar hedge fund based in New York.
The Case
In January 2024, Levy was sentenced in the Eastern District of New York for his role in a major securities fraud case involving Platinum Partners. The prosecution, which began in 2016, alleged that Levy and other executives at the fund orchestrated a scheme to defraud bondholders of Black Elk Energy, an oil and gas company controlled by Platinum Partners. Specifically, they were accused of rigging a consent solicitation vote related to $150 million in bonds to allow Platinum Partners to divert money from Black Elk to itself, ahead of the bondholders. Levy was convicted of securities fraud and conspiracy to commit securities fraud. At his sentencing in 2024, U.S. District Judge Brian Cogan sentenced Levy to time served and a fine, sparing him a prison term and describing him as a "broken man" who had already suffered significantly from the lengthy prosecution.
The Pardon
On January 15, 2026, President Trump granted Levy a full pardon.