No Payday For Harbinger ‘Whistleblower’

Jul 28 2014 | 10:47am ET

A person who claimed to be behind the Securities and Exchange Commission’s fraud case against Harbinger Capital Partner has been denied credit—and a share of the $18 million paid to settle the allegations.

The SEC said last week that it has denied the unidentified person’s whistleblower claim, finding that he or she did not provide the information that led to its enforcement action against the hedge fund and that the claimant failed to properly file with the regulator. The agency gave no further information.

Harbinger and founder Philip Falcone last year agreed to pay $18 million to settle a number of allegations, including an allegedly improper loan to Falcone to pay his taxes, granting Goldman Sachs preferential redemption treatment and market manipulation. The accord also saw Falcone banned from the securities industry for five years.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of