Democratic members of the Nassau County Legislature have called on the chairman of NuHealth to resign after the federal government issued a $250,000 fine for mishandling investor funds.
The Securities and Exchange Commission censured and fined Matthew Bruderman and his investment company, Bruderman Asset Management, LLC. The penalties are part of an agreement to settle charges that the firm misused investments. Bruderman did not respond to a request for comment.
In 2022, Nassau County Executive Bruce Blakeman had appointed Bruderman, a major Republican donor, as chair of NuHealth, the public benefit corporation that runs Nassau University Medical Center in East Meadow.
At a news conference Monday, Legislature Minority Leader Kevan Abrahams (D-Freeport) said Bruderman should step down immediately.
“The Nassau Healthcare Corporation already has financial issues, is already in financial distress," Abrahams said. "And the last thing we need is leadership that's going to be there that is not in line with being able to get that place [Nassau University Medical Center] back on track.”
The struggling hospital has suffered $100 million deficits the past three years. The SEC violations pertain to Bruderman’s investment company — not NuHealth or the hospital. But Abrahams wants a formal audit of the hospital’s funds.
"There should definitely be some level of an audit to ensure that Mr. Bruderman has not done anything that rises to malfeasance at the hospital," Abrahams said.
