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NYC Comptroller Investigates Alleged State Pension Fraud

Wednesday, April 22, 2009

New York City Comptroller Bill Thompson is investigating a private equity firm that's also named in a state probe of alleged pension fraud. WNYC's Bob Hennelly has more.

REPORTER: Thompson's office wants to know if the Quadrangle Group concealed payments to a firm linked to Hank Morris. He pleaded not guilty last month to an alleged kickback scheme in Attorney General Andrew Cuomo's investigation of the state pension system.

This week, former Quadrangle founder Steven Rattner's name surfaced in connection with the widening probe. Rattner is currently the Obama Administration's "car czar" and Mayor Bloomberg tapped him last year to manage his multi-billion dollar fortune.

Neither Rattner nor Quadrangle has been criminally charged in Cuomo's state pension fund probe. Quadrangle has also had dealings with the city's pension fund, and city comptroller Thompson has now launched his own investigation. For WNYC, I'm Bob Hennelly.

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