NY State Pension Fund Investigation
Mr. Rattner and Quadrangle were linked to a New York pension fund investigation "within months of his departure from Quadrangle, and stepped down from his government role" summer 2009. In September, 2009, a number of other firms involved in the pension fund investigation, including Carlyle Group and Riverstone Holdings, either paid fines or had "already agreed to pay settlements and to stop using placement agents," while Rattner and Quadrangle were "among others in talks with Mr. Cuomo’s office." In April, 2010, the firm agreed to pay fines of $7 million to Mr. Cuomo’s office and $5 million to the S.E.C. to settle its part. Rattner was not included in the agreement. According to a report, "The allegations against Quadrangle involved a movie deal that a company owned by one of the firm’s funds agreed to distribute. That film called “Chooch” was a project involving a brother of David J. Loglisci, the chief investment officer of the state pension fund. Mr. Loglisci pleaded guilty to securities fraud and admitted that he helped steer pension money to political contributors of the former state Comptroller, Alan G. Hevesi, and to companies that paid kickbacks to Mr. Hevesi’s top political consultant, Hank Morris."
Read more about this topic: Quadrangle Group
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