Ex-car Czar Rattner Settles Ny Probe For $10m

share: digg facebook twitter Cuomo's office had filed civil lawsuits against Rattner in November, accusing him of paying kickbacks to help his company land $150 million in state pension fund investments in 2004 and 2005. Eight people have pleaded guilty to criminal charges as a result of the case, including former state Comptroller Alan Hevesi, who admitted taking campaign contributions and luxury vacations from a financier seeking a multimillion-dollar pension fund investment deal. Cuomo's office and the Securities and Exchange Commission claimed that those bankers and brokers essentially had paid kickbacks to influence the officials overseeing the pension fund's giant investment portfolio, now valued at about $132.8 billion. [...] he has been writing and promoting a book on his work on the auto industry and working as an unpaid financial adviser managing the personal fortunes of New York City Mayor Michael Bloomberg, one of the world's richest men.

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