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Bear manager Cioffi redeemed $2 million from his fund

Bear Stearns Cos.'s Ralph Cioffi moved $2 million out of a hedge fund he managed into another one that was performing well in March 2007, less than four months before his funds failed, a former employee testified. Ken Mak, a former Bear Stearns Asset Management product manager, told a federal jury in Brooklyn, N.Y., on Tuesday ...

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