According to the Wall St Journal hedge-fund manager Philip Falcone was threatened with possible civil-fraud charges from the top U.S. securities regulator, the latest in a series of setbacks that have buffeted the investor since he rocketed to stardom in 2007.
Mr. Falcone and his firm, Harbinger Capital Partners LLC, received so-called Wells notices from the Securities and Exchange Commission, according to a regulatory filing Friday, an indication that charges are likely.
Among the issues the SEC has explored is whether Harbinger agreed to allow some investors, including Goldman Sachs Group Inc., to cash out of their holdings while barring other clients from withdrawing their money, ..
Find out more at http://online.wsj.com/article/SB10001424052970203413304577088440283592970.html?mod=WSJ_hp_LEFTWhatsNewsCollection
No comments:
Post a Comment