Two former Bear Stearns investment managers were indicted today on charges stemming from the collapse of hedge funds last year which cost investors more than $1 billion dollars.
Ralph R. Cioffi and Matthew M. Tannin were charged with nine counts including conspiracy, securities fraud, wire fraud, and allegedly misleading investors.
Both men have entered pleas of not guilty in a Brooklyn federal court.
Sources:
http://www.reuters.com/article/governmentFilingsNews/idUSN1935034820080619
http://money.cnn.com/news/newsfeeds/articles/djf500/200806191412DOWJONESDJONLINE000875_FORTUNE5.htm
