Prominent hedge-fund manager Philip Falcone has rejected a Securities and Exchange Commission settlement offer that would have banned him from the securities industry and essentially ended his career, people familiar with the matter tgold the Wall St Journal.
The move by SEC officials to reach a settlement came before an affiliate of Mr. Falcone's firm, Harbinger Capital Partners LLC, disclosed in a securities filing Dec. 9 that he and two senior executives have been warned by the SEC they could face civil-fraud charges.
An SEC spokesman declined to comment.....
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