NYT – His wireless dreams all but dashed, billions of dollars lost and investors swearing him off, Philip A. Falcone has been a colorful exhibit of how quickly fortunes can turn in the hedge fund world.
Adding to Mr. Falcone’s mounting woes, the Securities and Exchange Commission is expected to sue the money manager as soon as this week, planning to accuse him of taking a personal loan from his hedge fund, Harbinger Capital Partners, and of giving preferential treatment to Goldman Sachs, according to a person briefed on the matter Tuesday.
