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Falcone Admits Wrongdoing, Agrees to Five-Year Ban

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#1 em_te


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Posted 20 August 2013 - 00:45


As part of the settlement, disclosed Monday, Mr. Falcone and his hedge-fund firm, Harbinger Capital Partners, will pay more than $18 million and Mr. Falcone will be banned from the securities industry for at least five years.
Harbinger thought it had settled in May, when it said it had reached a deal that didn't require the firm or Mr. Falcone to admit wrongdoing. That pact also included financial penalties of about $18 million, but came with a two-year industry ban for Mr. Falcone. In a surprise, that settlement was rejected by SEC commissioners in July.
Mr. Falcone isn't barred from acting as a director or officer of a public company, meaning he can continue in his role at his publicly traded firm, Harbinger Group Inc. In a securities filing Monday, Harbinger Group, a holding company, said Mr. Falcone "may continue to own and control the Company and serve as its Chief Executive Officer and Chairman of its board."
In addition, Mr. Falcone and Harbinger appeared to get some protection from any future litigation. The consent agreement says the settlement doesn't affect their "right to take legal or factual positions in litigation or other legal proceedings" not involving the SEC.




#2 virtorio


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Posted 20 August 2013 - 00:56

So, is the picture of Tom Wilkinson in Batman Begins accidental or on purpose?

#3 Growled


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Posted 20 August 2013 - 01:01

So really he just got a slap on the wrist.

#4 DocM


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Posted 20 August 2013 - 06:27

So, is the picture of Tom Wilkinson in Batman Begins accidental or on purpose?

Either the OP wanted to do a funny because of his name (Boss Falcone was Wilkinson's part in Batman Begins) or his google-fu for images is weak. This is the real Phil Falcone -