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Phil Falcone Cooperating With "Informal Investigations" Into Trades

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According to a filing, the investigations are looking at “particular investments and trading in securities of particular issuers,” and it’s unclear as to who is conducting the probe (or if it’s related to the inquiry the Securities and Exchange Commission reported last week). One thing, however, is clear.

Phil and the rest of the Falcones don’t need this shit– someone cut them a break! The guy’s fund is down a not insignificant amount, he can’t afford to pay his taxes without borrowing himself some money from investors, said investors are all over his ass about said loan and now regulators, the one group of people he thought he could count on to give him a little breathing room, are on his ass. Everyone is down in the dumps at Chez Falcone– in fact, the only thing getting the couple and their staff of Little People through these trying times is the nightly performances by Wilbur, the family’s singing and dancing pig. And who knows? The way things are going, as their most valuable asset, they might have to trade him, too.

This is a message: LEAVE PHIL ALONE!

Falcone's Trading Investigated [Reuters]


Who Wants To Invest In Phil Falcone's New Company?

Harbinger Global Corp is coming to an exchange near you. Phil Falcone, the embattled billionaire hedge fund manager, has put together an unorthodox IPO that will see his hedge fund firm contribute assets valued at $350 million to a blank check company that will trade publicly. In the deal, a special purpose acquisition company that is expected to trade on Nasdaq and be known as Harbinger Global Corp., will acquire a majority interest in an MGM-branded hotel and casino development in Vietnam and a minority interest in an iron ore producer working in Brazil. Funds run by Falcone’s Harbinger Capital Management that are contributing the assets will get an ownership stake that could be as high as 96% in Harbinger Global and Falcone is slated to become executive chairman of the company. Falcone’s move to become closely involved in a publicly-traded company is audacious given that he is currently facing securities fraud charges from the Securities & Exchange Commission. Yeah, well, people also thought it was audacious for him to invite a burlesque dancing pig he barely knew to come and live with him and she turned out to be the best thing that ever happened to him, so.