Former N.Y. Liberal Party Leader Is Disbarred, Following Guilty Plea to Fraud Charge

On October 6, Raymond B. Harding, the one time leader of New York's Liberal Party, pleaded guilty in a New York state court to a class E felony and a class A misdemeanor. During his plea allocution, Harding admitted, among other things, that from June 2003 through July 2008 he wrongfully obtained more than $800,000 in state pension investment fees from the fraudulent sale of securities as placement agent on certain investment transactions of named funds with the New York State Retirement Fund. He stated that during Alan Hevesi's tenure as N.Y. State Comptroller, Hevesi's political advisor inserted Harding as placement agent on certain investment transactions with the New York State Common Retirement Fund so that he could receive hundreds of thousands of dollars in fees as reward for his political support of Hevesi.

Another state court has just ruled that, pursuant to N.Y. Judiciary Law § 90(4)(b), Harding is disbarred, nunc pro tunc to October 6, 2009.

The decision is Matter of Harding, 2010 N.Y. Slip Op. 01548 (App. Div. 1^st Dept. Feb. 23, 2010).