Rabbi Accused Of Trying To Extort Hedge Fund

Feb 19 2010 | 2:08pm ET

A rabbi has been charged with trying to extort $4 million from a hedge fund, as well as lying to federal prosecutors in an effort to increase the pressure on the unidentified firm.

According to the complaint, Milton Balkany warned that he was the spiritual adviser to an inmate who told him that the fund had engaged in insider-trading in 2004 and 2005, and that he would instruct the unidentified man not to tell investigators if the hedge fund ponied up.


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