Pension Fund Manager Accepts Bribes for Drugs, Prostitutes, and Vacations
Preet Bharara has charged a former New York State pension executive with accepting bribes -- including luxury watches, vacations, and cash for drugs and prostitutes -- in return for trades.
Imogen Rose-Smith
December 21, 2016
Preet Bharara, U.S. attorney for the Southern District of New York, speaks during a press conference in New York, U.S., on Wednesday, Dec. 21, 2016. A former portfolio manager who was responsible for investing more than $53 billion in New York State employee retirement funds took more than $100,000 in bribes in exchange for steering more than $2 billion in pension business to two brokers, earning them and their firms millions of dollars in commissions, authorities said on Wednesday. Photographer: Peter Foley/Bloomberg
Peter Foley/Bloomberg
