Reuters: Money News: Falcone agrees to industry ban in new U.S. SEC settlement

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Falcone agrees to industry ban in new U.S. SEC settlement Aug 19th 2013, 23:00 NEW YORK (Reuters) - Hedge fund manager Philip Falcone agreed to a five-year ban from the financial industry and will admit wrongdoing to settle charges by the U.S. Securities and Exchange Commission that he improperly used money from his hedge fund and unfairly favored some of his investors, the SEC announced on Monday.

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