SEC Says Ex-Detroit Mayor Got Gifts For Pension Fund Votes

Law360, New York (May 9, 2012, 6:03 PM EDT) -- Indicted former Detroit Mayor Kwame M. Kilpatrick was slapped with a U.S. Securities and Exchange Commission suit Wednesday claiming he voted to approve real estate investments by the city's public pension funds in exchange for lavish gifts from the funds' adviser.

MayfieldGentry Realty Advisors LLC gave Kilpatrick and former city treasurer Jeffrey W. Beasley $125,000 worth of private jet travel, concert tickets and other perks in 2007, according to a complaint filed in Michigan federal court. About the same time, MGRA CEO Chauncey Mayfield convinced Kilpatrick and...
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