New York-based Hedge Fund Adviser Philip A. Falcone and his advisory firm, Harbinger Capital Partners LLC, Charged with Securities Fraud (SEC Press Release)

Charges included misappropriation of client assets, market manipulation, and betraying clients. The SEC also charged Peter A. Jenson, Harbinger's former Chief Operating Officer, for aiding and abetting the misappropriation scheme. Additionally, the SEC reached a settlement with Harbinger for unlawful trading.

View press release in full here (links externally to SEC website).Additional Materials:SEC Complaint: Harbinger Capital Partners LLC; Philip A. Falcone; and Peter A. JensonSEC Complaint: Philip A. Falcone, Harbinger Capital Partners Offshore Manager, L.L.C., and Harbinger Capital Partners Special Situations GP, L.L.C.SEC Complaint: Harbert Management Corporation, HMC-New York, Inc. and HMC Investors, LLCSEC Administrative Proceeding