FindLaw: U.S. v. Ralph Cioffi and Matthew Tannin (U.S. Dist. Ct., E.D.N.Y., June 18, 2008) – “Two Bear Stearns hedge fund managers who helped create funds that dealt with subprime mortgages were indicted on securities fraud charges on allegations that included telling investors that “they could expect annual returns of approximately 10 to 12%” and leading investors to believe that their High Grade Fund was only slightly riskier than a money market fund.”