SEC charges Harbinger’s Falcone
US securities regulators yesterday charged billionaire hedge fund manager Philip Falcone and his firm Harbinger Capital Partners with a raft of illegal actions, including market manipulation and misappropriating client assets. The Securities and Exchange Commission also yesterday charged Peter Jenson, Harbinger’s former chief operating officer, with aiding and abetting the misappropriations scheme. Harbinger also settled an action alleging unlawful trading by agreeing to pay a $428,975 fine, plus $857,950 in disgorgement and $91,838 in prejudgment interest.