Ilya Marritz covers business for WNYC.
NYS Comptroller: More Pension Lawsuits Possible
Monday, June 01, 2009
New York, NY –
With the state pension fund down 26 percent in the last fiscal year, and an investigation continuing into alleged corruption there, the man who oversees the fund, State Comptroller Tom DiNapoli, says he's making transparency a priority. But he says some information is too sensitive to share. WNYC's Ilya Marritz has more.
REPORTER: Comptroller DiNapoli has released a full list of middlemen arranging pension deals in what prosecutors have alleged was a kickback scheme. But on Friday, he refused to disclose how these investments - made under allegedly improper circumstances - are performing.
DINAPOLI: I can't give you specifics on those funds at this point but that's part of the assessment that we have that's ongoing.
REPORTER: The comptroller says his office is thoroughly reviewing contracts with all funds mentioned in prosecutors' indictments. DiNapoli has already sued one private equity group, and didn't rule out the possibility of more lawsuits. The pension fund serves one million current and future retirees. For WNYC, I'm Ilya Marritz.