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Guilty Plea in NYS Pension Scandal

Thursday, March 11, 2010

There's been a guilty plea from a key figure in Attorney General Andrew Cuomo's ongoing investigation into pension fund corruption. WNYC's Lisa Chow reports.

REPORTER: David Loglisci managed the pension fund's investments from 2003 to 2007. Yesterday he admitted to helping direct hundreds of millions of dollars to certain investment firms. In exchange for getting pension fund business, these firms allegedly contributed to the campaign of Loglisci's boss, former State Comptroller Alan Hevesi, and paid fees to Hevesi's political consultant Hank Morris.

Hevesi has not been charged in Cuomo's investigation. Morris has and had pled not guilty. Cuomo says Loglisci's conviction is a sign that corruption was happening at the highest levels of the comptroller's office. Loglisci is now cooperating with the investigation.

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