Riverstone, Cuomo Settle Pay-To-Play Probe For $30M

Law360, New York (June 11, 2009, 12:00 AM EDT) -- Private equity firm Riverstone Holdings LLC has agreed to pay $30 million to the state of New York and pledged to adopt New York Attorney General Andrew Cuomo’s Public Pension Fund Code of Conduct to resolve allegations that it was involved in an illegal pay-to-play scheme with the state’s Common Retirement Fund.

The settlement resolves Rivington’s role in Cuomo’s investigation of corruption in the CRF, Cuomo said Thursday.

"Riverstone is the second to adopt our Code of Conduct, which reforms the public pension fund system by...
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