New York banned the use of placement agents

chair gets no jail for pension fund corruption

Scheme led to eight convictions

By Karen Freifeld

NEW YORK, Sept 28 (Reuters) Barrett Wissman, co chair Canada Goose Jackets of IMG Artists, will serve no jail time for Canada Goose sale his role in a sweeping Canada Goose Coats On Sale case of securities fraud in which investment firms paid kickbacks to manage assets of the New York state pension fund.

Wissman, former managing director of Dallas based canada goose uk black friday hedge fund HFV Management (also known as Hunt Financial Ventures), was sentenced Friday. He pleaded guilty in 2009.

of my actions and the actions of others, Wissman said in New York state court at his sentencing, managers were hired not for their skills and their abilities. but Canada Goose Online because they were well connected.

Wissman is among eight canada goose clearance people who pleaded guilty Canada Goose Outlet in a years long buy canada goose jacket probe canada goose of at the New York state Common Retirement Fund, which was recently valued at $150.6 billion.

Another six, including Steve Rattner, co founder of private equity firm Quadrangle Group LLC, canada goose factory sale and 21 firms made civil settlements, and paid more than $170 million for their roles Canada Goose Parka in the scheme.

The investigation, Canada Goose online initiated by then New York Attorney General Andrew Cuomo, now the state governor, revealed a nationwide problem and led to changes in pension funds across the country. New York banned the use of placement agents, lobbyists and elected officials from pension fund business.

New York canada goose uk shop state Supreme Court Justice Lewis Bart Stone allowed Wissman uk canada goose to withdraw his 2009 felony plea on Friday, leaving him with a misdemeanor, as part canada goose store of his cooperation agreement.

The judge sentenced Wissman to a conditional discharge, meaning the case was closed canada goose black friday sale as long as he did not commit other crimes.

Wissman, who stepped down as chairman of IMG Artists after his 2009 guilty plea, is back buy canada goose jacket cheap as co chair of the firm, which represents classical musicians.

Wissman gave $600,000 in kickbacks cheap canada goose uk to a political consultant between 2004 and 2007 in exchange canada goose coats for a $100 million investment by the New York pension fund in an HFV fund. He also took millions as a middleman on investments, secretly paying kickbacks on that money as well, the New York Attorney General Office said.

Former New York state Comptroller Alan Hevesi, who was running the state pension uk canada goose salecanadagooseoutlets outlet fund when the corruption occurred, is in prison. Hank Morris, the canadian goose jacket former political consultant at the heart of the canada goose coats on sale scheme, was also sent to prison.

Elliott Broidy, the founder of Los Angeles based Markstone Capital Partners, has not yet been sentenced. He pleaded guilty, canada goose clearance sale too.

Saul Meyer, founder of canada goose Canada Goose Outlet uk outlet Dallas based pension consultant Aldus Equity, is also awaiting sentencing, as is David Loglisci, the pension cheap Canada Goose fund former chief investment officer.

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