Former Tenafly Resident Ralph Cioffi’s Proposed Settlement …

MONDAY, FEBRUARY 13, 2012 LAST UPDATED: MONDAY FEBRUARY 13, 2012, 6:09 PM  BY HUGH R. MORLEY STAFF WRITER THE RECORD

Ex Tenafly Resident Ralph Cioffi

The former Tenafly resident who used  to live on Tenafly’s East Hill &  Bear Sterns executive,  Ralph Cioffi who was acquitted in a 2009  of securities fraud and conspiracy related to the hedge funds that were managed by him while at Bear Sterns is about to a enter a proposed settlement of civil charges.

Details of the proposed settlement are yet to be approved by the US district Court in Brooklyn . Arguments for the settlement case are to be submitted by the defendant and the government attorneys by February 21 . The SEC’s suit accused Cioffi and Tannin of deceiving investors about the riskiness of the two funds, which heavily invested in subprime securities. Read the entire report on northjersey.com