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Hedge Fund Manager Philip Falcone Charged with Securities Fraud
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Description
FBN's Robert Gray breaks down late-afternoon market news.
- Duration 0:56
- Date Jun 27, 2012
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Transcript
This transcript is automatically generated
I'm Robert Gray with your Fox Business -- the Securities and Exchange Commission has filed fraud charges against New York based hedge fund manager.
Philip Falcone.
-- as well as his company harbinger capital partners are accused of misusing more than 113.
Million bucks of client assets.
Market manipulation and betraying clients' the SEC also charged former harbinger CEO Peter Jensen for aiding and abetting the misappropriation.
Meanwhile pending home sales climbed to a two year high in May the National Association of Realtors latest reading rose to 101 point one.
It's the highest level since the -- expiration of the home buyer tax credit back in April 2010.
And durable goods orders in May rose for the first time in three months -- one point 1% monthly increase was better than economists expected.
That is the latest from the Fox Business Network giving you the power to prosper.
