Authorities in the United States have arrested two former fund managers of the New York investment bank, Bear Stearns.
The men are expected to face conspiracy and fraud charges for misleading investors over the state their company's two largest hedge funds. They allegedly downplayed the extent of the funds' exposure to the sub-prime mortgage market. The hedge funds collapsed due to the subprime crisis in 2007, costing investors around 1.8 billion dollars. Bear Sterns was bought out by JPMorgan Chase in March in a dramatic rescue package organised by the US Federal Reserve.
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