Riverstone Exec Pays $20M To End NY Kickback Probe

Law360, New York (December 10, 2009, 5:38 PM EST) -- The co-founder of private equity firm Riverstone Holdings LLC has agreed to shell out $20 million in restitution to settle allegations that he took part in a “pay-to-play” scheme related to New York's pension fund.

New York Attorney General Andrew Cuomo said Wednesday that David M. Leuschen's agreement resolves his role in the investigation of improper fund-raising activities at the New York State Common Retirement Fund.

“It is important that both firms and individuals be held accountable for conduct that jeopardized the integrity of the New...
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