Tuesday, June 26, 2012

SEC Charges for Philip A. Falcone and Harbinger

The Securities and Exchange Commission filed fraud charges against New York-based hedge fund adviser Philip A. Falcone and his advisory firm, Harbinger Capital Partners for illicit conduct that included misappropriation of client assets, market manipulation, and betraying clients.

In the networking industry, Falcone is best known for the LightSquared initiative, which was ultimately blocked in its attempt to build a nationwide LTE + satellite wholesale network.

See also