SEC Chief Wins Falcone Admission, But At Staff's Expense

Law360, New York (August 19, 2013, 8:47 PM EDT) -- U.S. Securities and Exchange Commission Chairman Mary Jo White may have thrown her enforcement division under the bus by rejecting its proposed settlement with Philip Falcone in favor of a landmark $18 million deal Monday that forces the hedge fund executive to admit guilt, attorneys say.

Falcone admitted that he improperly borrowed $113 million from a unit of his company, Harbinger Capital Partners LLC, and failed to disclose the loan to investors for about five months. He also admitted to retaliating against Goldman Sachs Group Inc....
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