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In Harbinger Of Much More Pain To Come, SEC Sues Phil Falcone
Things appear to be going from worse to worserer as the failure of Light-Squared appears to have been a 'harbinger' of pain to come for the man who was 188th richest in the US. As Bloomberg notes:
- *SEC SAID TO AUTHORIZE LAWSUIT AGAINST HARBINGER'S PHIL FALCONE
- *SEC SAID TO PLAN TO SUE FALCONE OVER TAX LOAN, GOLDMAN DEAL
- *SEC MAY FILE LAWSUIT AGAINST FALCONE AS EARLY AS THIS WEEK
- *FALCONE LAWSUIT MAY INCLUDE CLAIM OF MARKET MANIPULATION
Back in August 2010 we asked: "Is Phil Falcone's Mega Bet On SkyTerra Going To Be His Last?", turns out it was. Soon the only betting Phil may be doing is whether or not the soap slips in the common shower bathroom, or how many divorce attorneys might be waiting on patrol outside his multi-million dollar mansions; but we only have one thing to add now: "Got Pre-Nup?"
From Bloomberg:
...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....
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couldn't of happened to a nicer guy...
I have been having sex with Lisa Falcone for the last 6 weeks. She is done with Phil at this point.
she's cheating on me! WTF
I swear she claimed i'm the one
Yet Solyndra and MFGlobal have been carefully and quietly swept under the rug.
Falcone's sin: not donating to Odumber's campaign.
"I told him he'd better contribute or he'd be cast as the villain in Fast and Furious."
-supposedly Eric Holder
She looks like she has nerve damage on her face from bad plastic surgery to me.
She's cheating on bothe of you...Corzine told me he's doing her.
She is not even going to visit Phil in prison. At least that is what she told me.
you know what's better than conjugal visit sex? fugitive sex...
Fugitive anal sex, maybe?
Conjugal fugitive anal sex.
Anal sex?
it's not exclusive, I banged her last night
A shot across the bow of other campaign donors.
He is guilty. Guilty of not being jon corzine.
It is so sad to see a kid from the Iron Range gone bad. Why couldn't he be more like Kevin McHale and Zimmerman? They were kids from nearby Hibbing that went right.
From humble beginnings to royal douche bag in New York City seems like an easy story to believe. He should have stayed in Minnesota.
Is Goldman going to be sued for their part, or did they have the blessing of the SEC to knowingly violate laws?
$20M fine, and quickie bj from mary s.
"You really...mmpph!....shouldn't.....shlurpokk!....have done....mmmph...lick...slurp!...that..."
* spank! *
"...mmmmph..."
Didn't Jon Corzine improperly borrow client funds to pay JPM?
He is being sued not prosecuted. This is because it is literally impossible to commit a financial crime in this regulatory environment.
Isn't there an 800 number to call if you feel your civil rights have been denied even if you are breaking the law?
"Press 97262711843726262434344 for English."
Borrow.
Yes, he borrowed.
He did not steal.
Borrow.
He was gonna give it back all the time.
na na na nah na na nah
Bonnie and Clyde used to "borrow" from banks, in the same way. They just forgot that the best way to rob a bank is to own it.
you can not have a financial disaster without Goldman or JPM being involved in some way, just doesn't happen
Corzine should walk the plank first.
SURPRISE THE SEC DOES NOT SUE US FED AND ITS DEALERS ON MARKET MANIPULATION
SEC going after the dumber, smaller fish so there is a headline and a guppy in a tank rather than a vampire squid or great white shark.
The minnows of society will feel protected, even as they are herded towards the nets.
Guess he doesn't have the right friends. misallocation of resources.
Why is he even still in the country? Ecaudor, bitchez!
Breaking news...SEC is not looking at anything but porn
He didn't pay his tithes...