Ex-Harbinger COO Inks Settlement With SEC In Fraud Case

Law360, San Diego (June 17, 2014, 10:25 PM EDT) -- The former chief operating officer of Harbinger Capital Partners LLC has cut a deal with the U.S. Securities and Exchange Commission in the agency's fraud suit that the hedge fund and owner Philip Falcone previously settled for $18 million, according to a Tuesday filing in New York federal court.

David Stoelting, senior trial counsel at the SEC, told U.S. District Judge Paul Crotty in a letter that prosecutors have reached a settlement with defendant Peter A. Jenson, who is accused of hiding facts about an improper loan taken out by the fund's owner. The proposed deal is pending review by the...

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