{"id":12412,"date":"2009-10-08T06:07:39","date_gmt":"2009-10-08T10:07:39","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=12412"},"modified":"2009-10-08T06:07:39","modified_gmt":"2009-10-08T10:07:39","slug":"a-test-case-for-wall-street-justice","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2009\/a-test-case-for-wall-street-justice.html","title":{"rendered":"A test case for Wall Street justice"},"content":{"rendered":"<p>CNN Money &#8211; Ralph Cioffi and Matthew Tannin, both former hedge fund managers at Bear Stearns, are accused of painting a rosy picture of their portfolios, even though &#8220;the defendants believed that the funds were in grave condition and at risk of collapse,&#8221; according to the prosecution.<\/p>\n<p>Prosecutors blamed Cioffi and Tannin for causing Bear Stearns investors to lose more than $1 billion, alleging that their fraudulent behavior led to the collapse of their hedge funds and, subsequently, Bear Stearns. They have both pleaded not guilty and are out on bail: $4 million for Cioffi and $1.5 million for Tannin.<\/p>\n<p>The trial is scheduled to begin Oct. 13 in U.S. District Court in Brooklyn, New York. Cioffi and Tannin could each face 20 years if convicted of securities fraud.<\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/money.cnn.com\/2009\/10\/08\/news\/economy\/bear_stearns_cioffi\/index.htm?postversion=2009100805\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNN Money &#8211; Ralph Cioffi and Matthew Tannin, both former hedge fund managers at Bear Stearns, are accused of painting a rosy picture of their portfolios, even though &#8220;the defendants believed that the funds were in grave condition and at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[75,11708,2222,9598,6265],"class_list":["post-12412","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-bear-stearns","tag-hedge-funds","tag-hedge-fund-managers","tag-prosecution","tag-securities-fraud"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12412","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=12412"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12412\/revisions"}],"predecessor-version":[{"id":12413,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12412\/revisions\/12413"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=12412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=12412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=12412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}