Bloomberg – Former Bear Stearns hedge-fund managers Ralph Cioffi and Matthew Tannin, acquitted in 2009 of criminal charges they misled investors, agreed to pay $1.05 million to settle a related civil case brought by the U.S. Securities and Exchange Commission.
Cioffi agreed to pay $800,000 and accept a three-year ban from the securities industry and Tannin agreed to a two-year ban and $250,000 payment, SEC attorney John Worland told U.S. District Judge Frederic Block in Brooklyn, New York, in a hearing today.
