Falcone's SEC Admission Leaves Criminal Charges Up In Air

Law360, New York (August 19, 2013, 10:16 PM EDT) -- Although Philip Falcone and his hedge fund Harbinger Capital Partners LLC may have exposed themselves to criminal charges with their admission of wrongdoing Monday in a $18 million fraud settlement with the U.S. Securities and Exchange Commission, prosecution might be viewed unfavorably by judges and the public, experts say.

By admitting to multiple acts of misconduct to resolve allegations of market manipulation, the defendants haven't averted any criminal charges the U.S. Department of Justice might be preparing, experts told Law360. In fact, the admissions that Falcone didn't...
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