Quadrangle Resolves SEC, Cuomo Probes For $12M

Law360, New York (April 15, 2010, 6:31 PM EDT) -- Private investment firm Quadrangle Group LLC has agreed to pay $12 million to resolve investigations from the U.S. Securities and Exchange Commission and New York Attorney General Andrew Cuomo accusing the firm of participating in a widespread kickback scheme involving New York’s largest pension fund.

Quadrangle agreed to settle with the SEC for $5 million on Thursday, the same day the SEC charged it with championing the kickback scheme, the agency said. It also agreed to pay $7 million to the New York attorney general, according...
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