SEC charges Minnesota native, Wild part-owner Philip Falcone

Philip Falcone, a billionaire hedge-fund manager and part owner of the Minnesota Wild, has been charged by the Securities and Exchange Commission with misappropriation of client assets, market manipulation and betraying clients. In a civil suit filed this week, The Chisholm native is accused of fraudulently borrowing $113.2 million in investors’ money without their consent from a hedge fund he advised.
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Philip Falcone, a billionaire hedge-fund manager and part owner of the Minnesota Wild, has been charged by the Securities and Exchange Commission with misappropriation of client assets, market manipulation and betraying clients. In a civil suit filed this week, The Chisholm native is accused of fraudulently borrowing $113.2 million in investors’ money without their consent from a hedge fund he advised.

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