Pension Fund Investigation Now Includes City Figures

The Attorney General's office, already investigating the state pension fund, is now looking at the NYC pension fund. The NY Times reports, "Investigators have long been examining why a tiny firm operated by Daniel Hevesi, a former state senator and the son of a former state comptroller, Alan G. Hevesi, was paid more than $1 million in fees for his role as an intermediary in deals with pension funds in New York City and for deals in New Mexico." (Two of Hevesi's cronies have already been indicted in the state pension fund corruption probe.) NYC Comptroller William Thompson already announced his office was investigating the use of placement agents (aka the middlemen who collect fees to match funds with investment firms) but the AG's investigation would reportedly be broader. On the state side, the Daily News says that Assembly Speaker Sheldon Silver arranged meetings between investors—such as former Rangers goalie Mike Richter— and the state comptroller's office. While none of those investors were selected, watchdog group Common Cause says, "It's very inappropriate because it looks as if the speaker is using his office as the most powerful elected official in the Assembly to try and influence the controller."