The Guardian (Free subscription) | 11/17/2009
A new book reveals how US federal prosecutors twist the law to criminalise legal activities, with connivence from the media Sharp-elbowed business executives and grasping politicians may not be especially popular figures within the American iconography. But membership in any of those classes is not a federal crime. Except when it is. In an important new book, Three Felonies a Day: How the Feds Target...
DealBreaker (Free subscription) | 11/13/2009
It seems we will have Ralph Cioffi and Matthew Tannin to kick around for a while longer. The two men may have escaped the long arm of the law, winning an acquittal on fraud and insider-trading charges earlier this week, but the SEC isn't discouraged. The regulator will proceed with its own case against the two former Bear Stearns hedge fund managers, SEC Enforcement Chief Robert Khuzami said. And...
DealBreaker (Free subscription) | 11/12/2009
Balyasny Ex-Analyst Under Probe (WSJ) A complaint was filed last week alleging that an unnamed individual, supposedly Mark Adams, provided material non-public info about EMC Corp, where he once worked, in 2008 and 2009 while he was at Balyasny Asset Management (Adams previously worked at SAC Capital from July 2005 to December 2007). Bear Stearns Loss Echoes Long Line of U.S. Prosecution Defeats (Bloomberg)...
Mish's Global Economic Trend Analys (Free subscription) | 11/12/2009
Inquiring minds are listening to a video of Janet Tavakoli on Fox news commenting on the acquittal of Ralph Cioffi and Matthew Tannin , former co-heads of Bear Stearns Asset Management on six counts of fraud. Tavakoli said the prosecutors " relied on the wrong venue, the wrong issues, and the wrong evidence. So it's no surprise that they lost a case like that. But there will be another trial,...
DealBreaker (Free subscription) | 11/11/2009
Admit it: You're bummed that the Bear Stearns fraud trial has ended in a flash of prosecutorial incompetence and 12 potential clients for Ralph Cioffi and Matthew Tannin. We are, too. But fear not, friends, there's an embarrassment of hedge fund fraud riches out there to continue to follow, and we thought we'd offer a Readers' Digest of the (alleged) scams and scandals still making news. Madoff: Let's...
DealBreaker (Free subscription) | 11/11/2009
They haven't said anything yet but I think it's pretty obvious it's coming. Yesterday , when the dream team in charge of the two ridiculously named Bear Stearns funds--High Grade Structured Credit Strategies Fund and High Grade Structured Credit Strategies Enhanced Leverage Fund-- emerged from a Brooklyn courthouse, Matthew Tannin had the shit-eating grin pictured at left on his face. He was happy,...
Baltimore Sun (Free subscription) | 11/11/2009
NEW YORK - Two former Bear Stearns hedge fund managers were found not guilty of fraud, a decision that could make government prosecutors less likely to bring criminal charges against Wall Street executives for their role in the financial crisis. The case - the first major prosecution arising from the meltdown of major U.S. financial institutions - was seen as a test of whether a jury, presented with...
San Fransisco Chronicle (Free subscription) | 11/10/2009
Two Bear Stearns executives who ran hedge funds that crashed in 2007 amid the subprime mortgage meltdown were acquitted Tuesday of lying to investors about the looming crisis on Wall Street. Jurors found Ralph Cioffi and Matthew Tannin not guilty of... Bear Stearns - Hedge fund - Wall Street - Business - Subprime lending
San Fransisco Chronicle (Free subscription) | 11/10/2009
Two Bear Stearns executives who ran hedge funds that crashed in 2007 amid the subprime mortgage meltdown were acquitted Tuesday of lying to investors about the looming crisis on Wall Street. Jurors found Ralph Cioffi and Matthew Tannin not guilty of... BearStearns - Hedge fund - Wall Street - Business - Subprime lending
Daily Intelligencer - New York Magazine (Free subscription) | 11/06/2009
Most financial criminals attempt to look dignified during their perp walks. Bernie Madoff wore a suit on his big day, as did Matthew Tannin and Ralph Cioffi , and even Marc Dreier (although the accompanying stubble and Unabomber hair in that case somewhat lessened the effect). But the gang arrested as part of the SEC and FBI's sting on the Galleon insider-trading group is so far doing little justice...
CNNMoney.com (Free subscription) | 10/28/2009
While there has been some excitement in the courtroom itself during the first few weeks of the federal criminal trial of Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin, the real action in the trial so far seems to be taking place in and around a small bank in Florida that had nothing to do with the original conspiracy and the fraud charges filed against the two men in June 2008.
People Daily (Free subscription) | 10/28/2009
Former Bear Stearns hedge fund manager Matthew Tannin won a round during his trial in New York on fraud charges when a judge ruled the jury cannot see a personal e-mail in which he wrote about his fears of a "blow up risk" for investors. E-mails written by Tannin and his former boss at Bear Stearns Asset Management, Ralph Cioffi, are central to the prosecution's case against the two men -...
Reuters (Free subscription) | 10/26/2009
NEW YORK (Reuters) - Former Bear Stearns hedge fund manager Matthew Tannin won a round during his trial in New York on fraud charges on Monday when a judge ruled the jury cannot see a personal email in which he wrote about his fears of a "blow up risk" for investors.
San Fransisco Chronicle (Free subscription) | 10/14/2009
Two former Bear Stearns hedge fund managers are on trial in one of the few criminal cases brought against Wall Street executives in connection with the collapse of the housing market. Ralph Cioffi and Matthew Tannin face charges that they misled clients about... Sponsored Topics: Hedge fund - Bear Stearns - Business - Wall Street - Investing
Chicago Tribune (Free subscription) | 10/13/2009
Federal prosecutors allege that Ralph Cioffi and Matthew Tannin misled investors about the deepening woes in the portfolios as they scrambled in mid-2007 to keep the funds from collapsing. Attempts to place blame for the great financial crisis that sent the economy into a nose dive last year have made household names of top executives such as Angelo R. Mozilo, Richard Fuld and Maurice "Hank"...
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