NY AG Nets $19M In 2 Pension Kickback Settlements

By Jessica Dye

Law360, New York (February 08, 2010, 5:41 PM ET) -- The New York attorney general's office announced Monday that it had secured agreements with two major investment firms as part of an ongoing investigation into an alleged pay-to-play scheme involving lucrative investments with the New York State Common Retirement Fund.

Israeli venture capital firm Markstone Capital Group LLC and California-based placement agent firm Wetherley Capital Group LLC, along with its broker-dealer DAV/Wetherly Financial LP, will pay $18 million and $1 million, respectively, to resolve their roles in pay-to-play practices, as well as adopt new pension investment...
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