No Wonder O’s Fundraising So Much

First Corzine and now Falcone

Philip Falcone, the billionaire founder of Harbinger Capital Partners LLC, faces a lawsuit from U.S. regulators as soon as this week over claims he improperly borrowed client funds to pay his taxes and gave preferential treatment to Goldman Sachs Group Inc., according to two people familiar with the matter.

Falcone, 49, may also face a market manipulation claim related to trading in bonds of MAAX Holdings Inc., said the people, who asked not to be identified because the matter isn’t public. The Securities and Exchange Commission voted to authorize enforcement staff to file the case, the people said.

All his bundlers are getting bundled off…

3 Responses to “No Wonder O’s Fundraising So Much”

  1. aelfheld says:

    Just amazing how many . . . questionable . . . associates Bam has.

  2. nightfly says:

    You see, this is something I don’t quite get about life and business in the United States, circa 2012.

    This guy may have used client funds to pay his own taxes, and he’s getting sued – but why the hell isn’t he in actual-factual JAIL? “Sued by regulators” is not exactly a threat to make a man quail in his Manolos.

    All these regulations and restrictions and the best we can do in a case of outright theft is to sue, not prosecute?

  3. Gary from Jersey says:

    Add his name to the pardon list, along with Corzine’s.

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