Matthew Tannin

Matthew Tannin is a former fund manager with the New York City-based investment firm Bear Stearns. In June, 2008, Tannin, along with colleage Ralph Cioffi, were arrested by the FBI and charged with the crimes of conspiracy and fraud in conjunction with their alleged involvement in the 2007 collapse of the firm and its formerly lucrative hedge fund business. The action was part of a Justice Department sweep dubbed "Operation Malicious Mortgage."

Fast Facts

1. Born: ca. 1962
2. Residence: New Jersey
3. Arrested: June 19, 2008
4. Charges: Conspiracy and securities fraud
5. Alleged nature of crime: Misrepresenting health of funds he managed¹
6. Position: Portfolio manager
7. Tannin reported to Ralph Cioffi

Tannin's Alleged Crimes

Tannin, as portfolio manager of two funds founded by Cioffi, allegedly misrepresented the financial health of the funds and encouraged investors to pour more money into them, even as he knew that they were in danger of collapsing.¹

Operation Malicious Mortgage

The federal government's crackdown on those alleged to have been involved in mortgage fraud resulted in charges filed against over 400 suspects. Though they represent Wall Street, rather than the mortgage industry, Cioffi and Tannin are alleged to have mislead investors about the subprime mortgage market.²

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