In what could prove to be the final lights out for near-defunct LTE mobile network startup LightSquared, the SEC on Wednesday filed charges against hedge fund manager Philip Falcone, along with his Harbinger Capital Partners fund and its former CEO Peter Jenson. The charges include misappropriation of funds, market manipulation, and preferential treatment for favored investors who were allowed to withdraw funds. Even without the moniker “harbinger,” those involved likely should have seen this coming.
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SEC Lowers the Boom on Falcone
Posted by: Peter Suciu June 28, 2012 12:05 PMIn what could prove to be the final lights out for near-defunct LTE mobile network startup LightSquared, the SEC on Wednesday filed charges against hedge fund manager Philip Falcone, along with his Harbinger Capital Partners fund and its former CEO Peter Jenson. The charges include misappropriation of funds, market manipulation, and preferential treatment for favored investors who were allowed to withdraw funds. Even without the moniker “harbinger,” those involved likely should have seen this coming.