Bear Stearns hedge fund managers found not guilty

clock

Two Bear Stearns hedge fund managers have been found not guilty of fraud.

The managers became the centre of a scandal in June 2007, when their funds collapsed after making huge bets on the US sub-prime mortgage market. Ralph Cioffi and Matthew Tannin were yesterday cleared of charges, including conspiracy and securities fraud, relating to the downfall of their funds. The hedge funds were among the first to be hit by the sub-prime mortgage crisis, which eventually evolved into a full financial crisis in 2008. Investors lost funds worth around $1.6bn. Cioffi and Tannin are among the first company executives to face trial over their role in the financial cr...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Alternatives

Spring Statement 25: PISCES legislation to come in May for late 2025 launch

Spring Statement 25: PISCES legislation to come in May for late 2025 launch

Clarity on tax implications

Cristian Angeloni
clock 26 March 2025 • 1 min read
Kepler Partners' Alexander Ellerby: Volatility provides rich opportunity set for macro hedge funds

Kepler Partners' Alexander Ellerby: Volatility provides rich opportunity set for macro hedge funds

'Manager selection remains critical'

Alexander Ellerby
clock 25 March 2025 • 5 min read
BlackRock launches bitcoin ETP in Europe

BlackRock launches bitcoin ETP in Europe

100% physically bitcoin-backed

Sorin Dojan
clock 25 March 2025 • 1 min read
Trustpilot