Hedge-fund manager Philip Falcone and his firm, Harbinger
Capital Partners LLC, formally signaled their intent to seek the dismissal of
fraud charges filed against them earlier this year by securities regulators,
people familiar with the case told the WSJ
In June, the Securities and Exchange Commission filed civil
charges accusing Mr. Falcone of putting his own interests, including
maintaining a "lavish lifestyle," ahead of those of Harbinger's
investors.
The agency accused Mr. Falcone, Harbinger and Harbinger's
former operating chief, Peter Jenson, of misleading investors and an outside
law firm when Mr. Falcone took out a $113.2 million loan in 2009 from a
Harbinger fund to pay his personal taxes, even as other investors in the fund
were prevented from pulling their money….
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