Ralph Cioffi’s effort to use a $2 million redemption from a struggling hedge fund he managed as collateral for a Florida condominium complex he and his brother were building could result in a change of address to a federal prison for the former Bear Stearns fund manager. Prosecutors hope to use the attempted transaction as evidence that Cioffi engaged in insider trading, on top of charges he already faces for duping investors about two Bear hedge funds that blew up in July 2007 and cost investors $1.6 billion.
