Save the sarcasm, this was a ridiculous case brought by a politically driven prosecutor who thought they could make their career on this.
A hedge fund loses its SOPHISTICATED INVESTORS money. Win some, lose some. It wasn’t the investors that complained about fraud.
I tend to think these guys were not guilty. Goldman is far guiltier. They and their hedge fund short buddies like Soros, JC Flowers, John Paulson, D.E. Shaw probably worked together to take out Bear, Lehman, AIG et al to get you know who elected and for at least $50 billion in profits plus wiping out your competitors.