Here in New York, the powerful leader of one of the largest correction officers’ unions in the country has been arrested on corruption charges. Norman Seabrook has led the Correction Officers’ Benevolent Association for 21 years. U.S. Attorney Preet Bharara said Seabrook steered money for officers’ pensions into a high-risk hedge fund, in exchange for $60,000 in kickbacks.

Preet Bharara: “This morning, the FBI arrested Norman Seabrook, the longtime president of the Correction Officers’ Benevolent Association, or COBA, a union representing over 9,000 correction officers in New York City. We also charged and arrested Murray Huberfeld, the founder of Platinum Partners, a New York-based hedge fund. Seabrook and Huberfeld are charged with engaging in a straightforward and explicit bribery scheme. The complaint describes a simple quid pro quo: a $60,000 cash kickback to Seabrook, with promises of even more, in exchange for a $20 million investment in Huberfeld’s hedge fund.”