The battle over LightSquared Inc. is heating up, with Phil Falcone's hedge fund Harbinger Capital accusing satellite-television mogul Charlie Ergen of fraudulently acquiring the wireless venture company’s debt in order to take control of the company on the cheap, Dow Jones Daily Bankruptcy Review reported today. In a bankruptcy filing on Wednesday, Harbinger accused Ergen of using a front company to buy up nearly $1 billion in LightSquared.
