• Most Popular
  • Most Shared

Ex-Bear Stearns fund managers plead not guilty

Thu Jun 19, 2008 3:42pm EDT

NEW YORK, June 19 (Reuters) - The two former hedge fund managers at failed investment bank Bear Stearns who were arrested early on Thursday have entered pleas of not guilty in Brooklyn federal court.

Regulatory News  |  Global Markets  |  Funds News  |  ETFs News

The two men, Ralph Cioffi and Matthew Tannin, appeared before Magistrate Judge Steven Gold to face conspiracy and securities fraud charges following a federal probe into the collapse of funds they oversaw.

Cioffi's bail was secured by a $4 million bond, guaranteed by residences in Tenafly, New Jersey, and Naples, Florida. Tannin's bail was secured by a $1.5 million bond, guaranteed by his Upper West Side apartment in New York. Both men's wives also appeared in court to accept the bail conditions.

(Reporting by Phil Wahba, writing by Emily Chasan, editing by Richard Chang)

Regulatory News
Global Markets
Funds News
ETFs News


More from Reuters

Photo

Obama blames "systemic failures" for plane attack

KANEOHE, Hawaii (Reuters) - President Barack Obama on Tuesday blamed "human and systemic failures" for allowing a botched Christmas Day attack aboard a Detroit-bound airliner and a U.S. official said the incident was linked to al Qaeda. | Video

» More Top News
A man passes by a logo of the Tokyo Stock Exchange at the bourse in Tokyo December 29, 2009. REUTERS/Yuriko Nakao

Toyko trade gets turbocharged

The "Arrowhead" gives Asia's largest -- and long derided -- bourse a viable electronic trading platform, it hopes.  Full Article 

Global Markets
REUTERS/James Saft
JAMES SAFT:

Welcome to the "Teenies"

Shrinking financial sector? Paltry investment returns? Welcome to the the next decade. Don't worry, there's some good news, too.  Commentary 

COMMENTARY