Harbinger Under Investigation For Falcone Loan, Possible Preferential Treatment

Nov 15 2010 | 11:38am ET

Harbinger Capital Management is facing parallel civil and criminal probes into a controversial loan taken by firm founder Philip Falcone.

Both the Securities and Exchange Commission and U.S. Attorney’s office in New York are investigating that $113 million loan Falcone took last October to pay off unexpected tax liabilities. Authorities are also probing whether Harbinger gave some clients preferential withdrawal terms after it tightened its redemption policies following the financial crisis.


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Publisher's Note

    Hedge Funds Care Gala Raises $2 Million For Charity

    Mar 10 2014 | 11:33am ET

    A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…