Pension Fraud

The national law firm Manatt Phelps & Phillips has agreed to a five year ban from appearing before any public pension fund in New York and the firm will pay $550,000 to the State of New York. Manatt will also comply with N.Y.

The former Comptroller of the State of New York, Alan Hevesi, has pleaded guilty for his involvement in a pay-to-play kickback scheme at the Office of the New York State Comptroller. 

More to follow....

More to come....

More to follow....

Some workers across New York are significantly inflating their pensions by dramatically increasing their overtime hours in the final few years of employment, according to a preliminary report on pension padding just issued by N.Y. Attorney General Andrew Cuomo. 

The State of California has filed a civil suit against former California Public Employees Retirement System (“CalPERS”) Board Member Alfred Villalobos, his company ARVCO Capital, and former CalPERS CEO Federico "Fred" Buenrostro, charging them with fraud.

David Loglisci, the former Chief Investment Officer at the Office of the New York State Comptroller (“OSC”), who was indicted last year along with co-defendant Henry “Hank” Morris, has pleaded guilty to a felony for his role in what N.Y. State Attorney General Andrew Cuomo call a “culture of corruption” that permeated the New York State pension fund.  

The U.S. Supreme Court’s decision last month striking down federal campaign finance reform legislation led to much hand wringing, and probably just as much hand clapping. What may have gotten lost in the hullabaloo is that we live in a federal system. An announcement today by N.Y. Attorney General Andrew Cuomo shows that the government – or at least some government – still has power to limit campaign contributions. 

Good morning! There’s an article in today’s Newsday reporting on continuing efforts by New York State Comptroller Thomas DiNapoli to revoke the state pensions of five Long Island lawyers as part of his probe into private lawyers representing school districts and being listed as district employees.