New York pension investigation spreads to Texas

[Robbien]

Source: USA Today

A sweeping corruption investigation of public pension systems in New York expanded nationwide Thursday with the arrest of a Dallas investment adviser whose firm has worked for similar retirement plans in five other states.

Saul Meyer, co-founder of Aldus Equity Partners, was hit with corruption charges by New York Attorney General Andrew Cuomo for allegedly paying $300,000 in kickbacks to former New York state comptroller Alan Hevesi's top political aide in exchange for landing a retirement fund investment deal worth $175 million.

The criminal complaint also charged that Meyer, 38, tried to get additional business with the pension fund and gain Hevesi's favor by helping one of the comptroller's sons land a $250,000 fee in an unrelated investment deal with the New Mexico State Investment Council.

The Securities and Exchange Commission sought federal court approval to file civil fraud charges against Meyer and his firm, which has reaped millions of dollars through investment relationships with public pension systems in New York, New Mexico, California, Texas, Oklahoma and Louisiana.

Cuomo said he's coordinating the 2-year-old investigation with law enforcement authorities in other states based on signs of similar corruption involving other public employee pension fund officials and the private firms that vie for lucrative contracts advising them on billions of dollars in investments. "I believe we are disclosing a national network of actors who often acted in concert and did this all across the country," Cuomo said.

Read more: http://www.usatoday.com/money/markets/2009-04-30-pension-probe-new-york-dallas_N.htm

[aquart]

1. But can he get the money back?

[seafan]

2. Will the investigators swing by Florida as well? We'll leave the light on for ya.

Carlyle infests Florida 's investment funds as well. Hope this is part of the Carlyle probe., June, 2005

Carlyle Probed Over Business With New York Pension Fund, April 14, 2009





New York pension investigation spreads to Texas, USA Today, May 1, 2009


Swine Flu.

[jwirr]

3. Wonder how many other states have invested in this mess?

[hedgehog]

4. Hevasi had a good reputation until it was disclosed that he used

a state funded chauffeur and car for his wife. It was hinted that she was depressed and it was his way of ensuring that someone kept an eye on her when he was away on state business. At the time, i thought he was a good man being given the bum's rush. The question of who is entitled to a limo and how the limo may be used is very fuzzy in Albany.

[truedelphi]

6. At this point, many of us could care less about a limo here and there.

It is the millions, hundreds of millions and trillions that is eating away at us.

[No Elephants]

5. Cuomo is soooo gearing up to run for higher office. Still, kudos.