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Tuesday, November 10, 2009
Two Bear Stearns Execs Found Not Guilty: Reports
By Wallace Witkowski
MarketWatch Pulse
SAN FRANCISCO -- Jurors found Ralph Cioffi and Matthew Tannin, two executives that ran hedge funds at Bear Stearns, not guilty on counts they lied to investors, according to media reports Tuesday. Both Cioffi and Tannin had been charged with three counts of securities fraud and two counts of wire fraud connected to a $1.6 billion hedge fund loss. J.P. Morgan Chase & Co. bought Bear Stearns at the height of the financial crisis.
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