Bear Stearns Fund Manager under Investigation

Federal prosecutors reportedly are investigating the actions of a Bear Stearns fund manager who took about $2 million of his own money out of one of the Bear Stearns internal funds that subsequently collapsed.  According to reports, at the time Ralph Cioffi moved his money into a different fund, he was still making optimistic forecasts about the fund.  WSJ, Bear Manager's Actions Are Subject of Inquiry.