Two hedge-fund managers of Bear Stearns Cos., prosecuted for conspiracy and fraud, have been acquitted. The two men persuaded people to invest in unhealthy hedge funds. The case looks similar like the one of Enron, as they used vague statements to mislead the investors. Their e-mail correspondence proved their awareness of the risks of the hedge funds. But federal agents have failed to get the two managers convicted. After the Enron case, the world was struck by the subprime crisis, which brought new fraude cases to light. The American government still struggles to solve all the cases and get every “white- collar crook” behind bars.
Filip De Geyter
Source: Chron
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