{"id":5484,"date":"2013-08-20T00:00:00","date_gmt":"2013-08-20T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/08\/harbinger_capital_and_hedge_fu"},"modified":"2022-05-04T14:22:41","modified_gmt":"2022-05-04T19:22:41","slug":"harbinger-capital-and-hedge-fu","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/harbinger-capital-and-hedge-fu\/","title":{"rendered":"Harbinger Capital and Hedge Fund Adviser Philip Falcone To Settle SEC Fraud Charges by Paying Over $18M and Admitting Wrongdoing"},"content":{"rendered":"\n

The SEC says that Philip A. Falcone and his Harbinger Capital Partners will pay over $18 million and admit wrongdoing related to its securities fraud case<\/a> alleging the improper use of $113 million in fund assets to cover the hedge fund advisor\u2019s personal taxes. The Commission also is accusing them of secretly placing a preference over specific customer redemption requests at cost to other investors and performing an improper \u201cshort squeeze\u201d involving bonds that were put out by a Canadian manufacturer. <\/p>\n

Not only are Harbinger and Falcone admitting wrongdoing but also they are acknowledging that they committed numerous acts of misconduct that hurt investors and got in the way of the securities market\u2019s proper functioning. <\/p>\n

Admissions by Falcone and Harbinger, as set out by papers submitted to the court:<\/em><\/strong><\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The SEC says that Philip A. Falcone and his Harbinger Capital Partners will pay over $18 million and admit wrongdoing related to its securities fraud case alleging the improper use of $113 million in fund assets to cover the hedge fund advisor\u2019s personal taxes. The Commission also is accusing them of secretly placing a preference […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748,3741],"tags":[],"class_list":["post-5484","post","type-post","status-publish","format-standard","hentry","category-hedge-funds","category-securities-fraud"],"yoast_head":"\nHarbinger Capital and Hedge Fund Adviser Philip Falcone To Settle SEC Fraud Charges by Paying Over $18M and Admitting Wrongdoing — Investor Lawyers Blog — August 20, 2013<\/title>\n<meta name=\"description\" content=\"The SEC says that Philip A. Falcone and his Harbinger Capital Partners will pay over $18 million and admit wrongdoing related to its securities fraud case — August 20, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/harbinger-capital-and-hedge-fu\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Harbinger Capital and Hedge Fund Adviser Philip Falcone To Settle SEC Fraud Charges by Paying Over $18M and Admitting Wrongdoing — Investor Lawyers Blog — August 20, 2013\" \/>\n<meta name=\"twitter:description\" content=\"The SEC says that Philip A. 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