Harbert Reaches $40 Million Tax Settlement With New York
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Philip A. Falcone in 2015. Some of the backers of his former hedge fund, Harbinger Capital Partners, were accused of not paying state taxes for some of the most profitable years that he was managing Harbinger.CreditChang W. Lee/The New York Times
The money manager Philip A. Falcone, who made billions of dollars betting on the collapse of the housing market a decade ago and later lost at least a billion dollars investing in wireless telecommunications, is no stranger to run-ins with regulators.
In 2013, Mr. Falcone agreed to be barred from working in the securities industry for five years, an agreement stemming from violations at his former hedge fund, Harbinger Capital Partners. Now, some of Mr. Falcone’s original financial backers from Alabama have reached their own regulatory settlement in a tax investigation…
Harbert Reaches $40 Million Tax Settlement With New York
