By
Chris Dolmetsch
October 17, 2017, 9:10 AM PDT October 17, 2017, 2:10 PM PDT
Preet Bharara
Photographer: Peter Foley/Bloomberg
A former hedge fund executive’s bold attempt to hold prosecutors responsible for the demise of his firm fell apart as an appeals court threw out his case, saying that authorities had a legal basis for a search warrant even if false information was used to obtain it.
David Ganek, a co-founder of Level Global Investors LP, sued former Manhattan U.S. Attorney Preet Bharara and more than a dozen of his deputies and FBI agents in 2015, alleging that they used fabricated evidence to justify a 2010 raid of the firm. Prosecutors won a partial dismissal of the case last year and appealed seeking to have the entire case thrown out.
On Tuesday, an appeals court in Manhattan threw out the remainder of the lawsuit, finding that prosecutors and agents had immunity from Ganek’s claims. The appellate judges said it didn’t matter whether law enforcement officials used a false statement from a Level Global employee to obtain a warrant to search the firm because the statement wasn’t necessary to establish probable cause.
Ganek was never accused of wrongdoing. He said that negative publicity after the raid led to the collapse of the fund in February 2011.
https://www.bloomberg.com/news/arti...nek-s-suit-against-u-s-is-dismissed-on-appeal
Chris Dolmetsch
October 17, 2017, 9:10 AM PDT October 17, 2017, 2:10 PM PDT
- Appeals court says probable cause established to search firm
- Ganek says ruling marks ‘dangerous day for private citizens’
Preet Bharara
Photographer: Peter Foley/Bloomberg
A former hedge fund executive’s bold attempt to hold prosecutors responsible for the demise of his firm fell apart as an appeals court threw out his case, saying that authorities had a legal basis for a search warrant even if false information was used to obtain it.
David Ganek, a co-founder of Level Global Investors LP, sued former Manhattan U.S. Attorney Preet Bharara and more than a dozen of his deputies and FBI agents in 2015, alleging that they used fabricated evidence to justify a 2010 raid of the firm. Prosecutors won a partial dismissal of the case last year and appealed seeking to have the entire case thrown out.
On Tuesday, an appeals court in Manhattan threw out the remainder of the lawsuit, finding that prosecutors and agents had immunity from Ganek’s claims. The appellate judges said it didn’t matter whether law enforcement officials used a false statement from a Level Global employee to obtain a warrant to search the firm because the statement wasn’t necessary to establish probable cause.
Ganek was never accused of wrongdoing. He said that negative publicity after the raid led to the collapse of the fund in February 2011.
https://www.bloomberg.com/news/arti...nek-s-suit-against-u-s-is-dismissed-on-appeal