Rattner Said To Pay $5M To End SEC Kickback Claims

Law360, New York (October 13, 2010, 6:58 PM EDT) -- Former car czar Steven Rattner will reportedly shell out more than $5 million and accept a multiyear ban from the securities industry in order to settle U.S. Securities and Exchange Commission claims related to an alleged pay-for-play scheme involving New York state's pension fund.

The deal will put to bed allegations stemming from a multiyear SEC investigation, and Rattner is working toward reaching a similar settlement with New York Attorney General Andrew Cuomo, the New York Times reported Wednesday, citing a source familiar with the negotiations....
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