Judge Won’t Drop Charge vs Ex-Bear Stearns Exec
July 15, 2009 by admin
A U.S. judge refused on Tuesday to dismiss an insider-trading charge against former Bear Stearns hedge fund manager Ralph Cioffi, court documents showed.
Judge Frederic Block of the U.S. District Court for the Eastern District of New York denied Cioffi’s motion, according to the minutes of the hearing posted on the court’s website.
Prosecutors allege that Cioffi transferred a portion of his own holdings from a fund without telling investors.
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