NEW YORK (Reuters) - Two former Bear Stearns hedge fund managers were arrested and indicted on securities fraud charges on Thursday following a federal criminal probe into the collapse of two funds they oversaw. The former managers, Ralph Cioffi and Matthew Tannin, surrendered to officials and are expected to be arraigned later on Thursday on wire and securities fraud charges. The indictment said the fund managers lied about the funds’ prospects despite liquidity concerns and outlook for the market. The indictment also stated that one of the managers transferred a portion of his own investments from one of the funds but did not tell investors about the move. More
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