SEC levies $100m fine on Lewis Chester (Fund News)
A US court set the penalty, the highest imposed by US regulators on a foreign citizen,
last week on Lewis Chester and his firm Pentagon Capital Management for defrauding US mutual funds of tens of millions of dollars between 1999 and 2003.
Harbinger lost 29.6 percent in February (Fund News)
Philip Falcone's flagship fund, Harbinger Capital Partners Fund II, lost 29.6 percent in February largely because of ailing telecommunications company LightSquared Inc.