The former managers of two Bear Stearns hedge funds have been
indicted on criminal charges of securities fraud related to the
funds collapse, which cost investors about $1.6 billion.
The two managers, Ralph Cioffi and Matthew Tannin, were
charged on June 18 with nine counts of securities, mail and
wire fraud in connection with their oversight of the Bear
Stearns High Grade Structured Credit Strategies fund and Bear
Stearns High Grade Structured Credit Strategies Enhanced fund.
Both portfolios imploded in June 2007 as the market fell apart
for subprime mortgage securities, wiping out nearly all...