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Famed hedge fund manager Philip Falcone charged by feds with market manipulation

Mercury News – The bad news keeps coming for Philip Falcone, once one of the hedge fund industry’s most successful fund managers.

The U.S. Securities and Exchange Commission filed a lawsuit in federal court on Wednesday charging Falcone with market manipulation, giving preferential treatment to several big investors who wanted to get their money out and borrowing cash from his hedge fund to pay personal expenses.

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