June 27, 2008
Anna Christopher, NPR
June 27, 2008; Washington, D.C. – NPR News has exclusively learned that the federal government could file additional indictments against two former hedge fund managers at Bear Stearns, who were charged last week with securities fraud related to a nearly year-long investigation into Wall Street's role in the mortgage crisis.
NPR’s FBI correspondent Dina Temple-Raston reports that the U.S. Attorney's office in the Eastern District in New York is focusing on whether Ralph Cioffi and Matthew Tannin purposely mislead banks that lent them money for the fund. Temple-Raston reports that investigators are talking to representatives from Barclay’s, Merrill Lynch and Bank of America. The indictments could come as early as next week.
A web companion story is available at: www.npr.org/templates/story/story.php?storyId=91958394 All excerpts must be credited to NPR News. Television usage must include on-screen NPR News credit with NPR logo.
Temple-Raston was the first to report last week on the New York grand jury’s initial charges against the Bear Stearns executives. That report is available online at: www.npr.org/templates/story/story.php?storyId=91646101