Ex-Bear Stearns Execs Knew The End Was Near: Feds

Law360, New York (June 19, 2008, 12:00 AM EDT) -- Two former Bear Stearns Cos. managers have been arrested on criminal charges stemming from the collapse of two hedge funds that invested heavily in risky subprime mortgage securities.

The first executives to be charged criminally in the aftermath of the mortgage meltdown, Ralph Cioffi, 52, and Matthew Tannin, 46, were taken into custody by FBI agents on Thursday and arraigned before U.S. Magistrate Judge Steven Gold in the U.S. District Court for the Eastern District of New York.

Cioffi, the founder of the failed funds, and...
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