So the Levys can get a combined 155 years and Phil Falcone well a slap on the wrist and a $4 million fine
Whether the Levys deserve some time is not in question but the amount wow
Hedge Fund Manager Pays $4 Mil; Gets A Slap On Wrist From SEC
Call it a paper tiger agreement: The Securities and Exchange Commission has effectively barred a hedge fund manager from the investment business, all the while allowing him to still retain control of his company. Complicance Week reported that hedge fund adviser Philip Falcone will remain in control of Harbinger Capital Partners LLC, despite a settlement with the SEC. In 2012, Falcone and the firm were sued by the agency for, among other things, using client funds to pay taxes, manipulating bond prices, and buying securities in a public offering after short-selling the same securities during a restricted period. Compliance Week added that Falcone will personally pay $4 million of an $18 million penalty.
wow you really have to get lucky huh
