Prosecution By Attorney General Cuomo
The case drew significant media attention when Andrew Cuomo, then New York's Attorney General, demanded more severe penalties from Rattner than other firms or individuals involved in the alleged corruption. Rattner was once a major fundraiser for Democratic Party candidates but had repeatedly passed on supporting Cuomo's campaigns. In an appearance on the Charlie Rose Show, Rattner asserted that hiring Hank Morris as a placement agent was "legal then, legal now, and done properly." He explained he was willing to settle on reasonable terms, but called Cuomo's demands "close to extortion" and questioned whether Cuomo was motivated by the "facts" of the case.
On December 30, 2010, Rattner reached a settlement to pay $10 million in restitution but no fines or penalties. The settlement also stipulates that Rattner be barred from appearing in any capacity before a public pension fund within the state of New York for five years. He was not prohibited from continuing to protest his innocence.
Read more about this topic: Steven Rattner
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