Hedge fund manager Falcone to settle fraud case

Associated Press
Hedge fund manager Falcone to settle fraud case

FILE - In this Thursday, Nov. 13, 2008, file photo, Philip Falcone testifies on Capitol Hill in Washington. Billionaire hedge fund manager Philip Falcone and his firm have agreed on Thursday, May 9, 2013, to pay $18 million to settle civil fraud charges that he used fund money to pay his taxes and favored some clients over others. (AP Photo/Kevin Wolf, File)

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