{"id":11310,"date":"2009-08-21T00:00:00","date_gmt":"2009-08-21T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"case-will-throw-light-on-funds-before-bear-stearns-collapsed","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2009\/case-will-throw-light-on-funds-before-bear-stearns-collapsed.html","title":{"rendered":"Case will throw light on funds before Bear Stearns collapsed"},"content":{"rendered":"<p> Daily Telegraph &#8211; The funds collapsed as billions of dollars of bets made on mortgage-backed    bonds and collateralised debt obligations (CDOs) unravelled, and when the    time came to try to sell some of the funds&#8217; sub-prime mortgages, no one    wanted to buy them. <\/p>\n<p> At the centre of those funds sat two men &ndash; hedge fund manager Ralph Cioffi and    Matthew Tannin, the chief operating officer of Bear Stearns Asset Management    (BSAM) &ndash; who were arrested a year later and charged with several counts of    wire and securities fraud, following the loss of $1.4bn of investors&#8217; money. <\/p>\n<p> They face possible 20-year prison sentences, though both have consistently    pleaded their innocence. The case against them will be set out at a trial    slated to start in October. It centres on emails between the two &ndash; and with    investors &ndash; in which both funds were referred to as &quot;an awesome    opportunity&quot;, despite allegations that both men knew of the problems    within them. <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.telegraph.co.uk\/finance\/financetopics\/financialcrisis\/6061849\/Case-will-throw-light-on-funds-before-Bear-Stearns-collapsed.html?FORM=ZZNR2\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daily Telegraph &#8211; The funds collapsed as billions of dollars of bets made on mortgage-backed bonds and collateralised debt obligations (CDOs) unravelled, and when the time came to try to sell some of the funds&#8217; sub-prime mortgages, no one wanted [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[572,249,75,82,4807,15554,1443,14922,3928,15555,4504,48,143,15553,15552,6265,9339,15466,11824],"class_list":["post-11310","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-allegations","tag-asset-management","tag-bear-stearns","tag-bets","tag-billions-of-dollars","tag-bsam","tag-chief-operating-officer","tag-collateralised-debt-obligations","tag-daily-telegraph","tag-innocence","tag-investors","tag-money","tag-mortgage-backed-bonds","tag-prison-sentences","tag-ralph-cioffi","tag-securities-fraud","tag-sub-prime-mortgages","tag-tannin","tag-two-men"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11310"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11310\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}