Please disable your Ad Blocker to better interact with this website.

CorruptionCrimeNew YorkNews/Opinion

Bharara Announces Pay-To-Play Charges Involving NY State Pensions

Charges relating to a pay-to-play scheme involving state pension plans were announced by U.S. Attorney General for the Southern District of New York Preet Bharara at noon Wednesday.

The charges are against former portfolio manager at the New York State Common Retirement Fund, Navnoor Kang, and two brokers — Deborah Kelley and Gregg Schonhorn.

The legal claims are that Kang, Kelley, and Schonhorn “participated in a scheme to defraud the NYSCRF and its members and beneficiaries,” according to court documents released Wednesday. The case alleges the three had an agreement wherein outside entities would, “pay Kang bribes, in the form of entertainment, travel, lavish meals, prostitutes, nightclub bottle service, narcotics, luxury gifts, and cash payments, among other things, in exchange for fixed income business.”

The suit also claims that Kang used his position of power to “promote the interest of Kelley and Schonhorn, and their respective firms.” Kang allegedly steered “more than $2 billion in fixed-income business,” to Kelley and Schonhorn’s respective companies.

Kang currently works as the Chief Strategy Office for Fair Observer, a San Francisco-based nonprofit media organization. He began his career as an analyst for Goldman Sachs.

Accompanying the attorney general at the noon press conference were Special Agent-in-Charge of the New York Field Office of the Federal Bureau of Investigation, William F. Sweeney, and Director for the Division of Enforcement for the Securities and Exchange Commission, Andrew Ceresney.

Read more at the Daily Caller

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected]

Rusty Weiss

Rusty Weiss is a freelance journalist focusing on the conservative movement and its political agenda. He has been writing conservatively charged articles for several years in the upstate New York area, and his writings have appeared in the Daily Caller, American Thinker, FoxNews.com, Big Government, the Times Union, and the Troy Record. He is also Editor of one of the top conservative blogs of 2012, the Mental Recession.

Related Articles

39 Comments

  1. I’m curious to find out what blog platform you have been utilizing? I’m experiencing some small security problems with my latest blog and I’d like to find something more risk-free. Do you have any solutions?

  2. you are really a good webmaster. The site loading speed is incredible. It seems that you are doing any unique trick. Furthermore, The contents are masterwork. you have done a excellent job on this topic!

  3. Pingback: Webcam girls
  4. I every time used to read post in news papers but now as I am a user of
    internet therefore from now I am using net for articles or reviews, thanks
    to web. asmr 0mniartist

  5. Heya i am for the first time here. I found this board and I in finding
    It truly useful & it helped me out much. I hope to offer something back and help others like you aided me.

  6. Nice blog here! Also your web site loads up fast! What host are
    you using? Can I get your affiliate link to your host?
    I wish my site loaded up as fast as yours lol

  7. Do you mind if I quote a few of your posts as long as I provide credit and sources back to your site?
    My website is in the very same niche as yours and my visitors would really benefit from a lot of the information you present here.
    Please let me know if this okay with you. Cheers!

  8. Heya i’m for the first time here. I found this board and I find It truly useful &
    it helped me out a lot. I hope to give something back and
    help others like you helped me.

  9. Hi, I do think this is an excellent site. I stumbledupon it
    😉 I am going to return yet again since I book marked
    it. Money and freedom is the best way to change, may you
    be rich and continue to help other people.

  10. Hi there! This post couldn’t be written any better! Reading through
    this article reminds me of my previous roommate!

    He always kept preaching about this. I most certainly will send this article to him.

    Pretty sure he will have a good read. I appreciate you
    for sharing!

  11. scoliosis
    Thanks a bunch for sharing this with all of us you actually recognize what you’re speaking about!
    Bookmarked. Kindly also discuss with my site =).
    We may have a hyperlink exchange arrangement among us scoliosis

  12. scoliosis
    Thanks on your marvelous posting! I actually enjoyed reading
    it, you happen to be a great author. I will be sure to bookmark your blog and will eventually
    come back very soon. I want to encourage yourself to continue your great work, have a
    nice afternoon! scoliosis

  13. free dating sites
    After looking at a number of the blog posts on your web site, I honestly like your technique of writing a blog.
    I saved it to my bookmark website list and
    will be checking back soon. Please visit my website
    too and tell me how you feel. dating sites

  14. Pingback: W88casino.net
  15. I’m truly enjoying the design and layout of your blog.
    It’s a very easy on the eyes which makes it much more pleasant for me to come
    here and visit more often. Did you hire out a developer to
    create your theme? Excellent work!

  16. I truly love your website.. Pleasant colors & theme. Did you build this website yourself?
    Please reply back as I’m looking to create my very own website and want to find out where you got this
    from or what the theme is named. Thank you!

  17. Hi there would you mind letting me know which hosting company you’re using?
    I’ve loaded your blog in 3 completely different browsers and I must say
    this blog loads a lot quicker then most. Can you suggest a good web hosting provider at a fair price?
    Thanks a lot, I appreciate it!

  18. Thank you for every other excellent post. Where else may just anyone get that kind
    of information in such a perfect method of writing?
    I’ve a presentation subsequent week, and I’m on the look for
    such information.

  19. Does your website have a contact page? I’m having a tough time locating it but,
    I’d like to send you an email. I’ve got some creative ideas
    for your blog you might be interested in hearing.
    Either way, great website and I look forward to
    seeing it develop over time.

  20. Hello there! This is my first visit to your blog!
    We are a collection of volunteers and starting a new project in a community in the same niche.

    Your blog provided us valuable information to work on. You have done a
    wonderful job!

  21. Outstanding post however , I was wanting to know if you could write a litte more on this subject?
    I’d be very grateful if you could elaborate a little
    bit further. Thank you!

  22. I’m not sure where you are getting your info, but good topic.
    I needs to spend some time learning more or understanding more.
    Thanks for excellent information I was looking for this info for my mission.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button