Ex-Union Boss Resorts To Fundraising Methods Beyond Hedge-Fund-Bribes-In-Handbag

(Ferragamo)

In his two decades leading one of New York City’s most powerful unions, had several ways to support his family. There was his salary as a city corrections officer, which had jumped considerably during his tenure thanks to his negotiating talent. There was his union stipend on top of that salary. And on those occasions when that $300,000 per annum proved insufficient, he could always use his control over the union’s budget and pension to extract a few kickbacks from those who wished (at the time) to manage that money. At least, that’s what a jury said last week.

Given that unpleasant turn of events, which come with as many as 20 years in jail, and the collapse of the (allegedly!) fraudulent hedge fund paying those kickbacks, Seabrook and his family no longer have recourse to Ferragamo handbags filled with $60,000. Plus, a purse may no longer be sufficiently sizeable to meet their growing needs. So they’re resorting to a bit of online hat-passing.

Norman Seabrook, the former president of the New York Correction Officers’ Benevolent Association, was found guilty by a jury on August 15 for accepting kickbacks in exchange for investing COBA funds with hedge fund Platinum Partners. The next day, son-in-law Mike Peluso created a GoFundMe webpage with the stated goal of raising $100,000 for his Seabrook’s family.

“Please let’s stand together, not as a union but as a family and support in this time of need,” Peluso wrote on the GoFundMe webpage. “All funds raised will be used for the hardship to his family and the funds will be distributed in the form of a certified bank check.”

So far, alas, they’ve barely raised enough to stuff a Ferragamo wallet, let alone the Ferragamo duffle bag’s worthy they’re seeking.

Seabrook’s Son-In-Law Starts Crowdfunding Campaign After Guilty Verdict [Institutional Investor]
Norman Seabrook Guilty of Bribery in Trial That Cast Shadow Over De Blasio [NYT]
Can $60,000 Fit in a Designer Bag? That’s the Big Question in a Corruption Case [NYT]

Ex-Union Boss Resorts To Fundraising Methods Beyond Hedge-Fund-Bribes-In-Handbag curated from Above the Law