Exec Pleads Guilty In Pension Fund Kickback Case

Law360, New York (December 3, 2009, 5:50 PM EST) -- The founder of a private equity firm pleaded guilty Thursday to allegations that he won $250 million in investments from a New York pension fund after giving state officials nearly $1 million in illegal gifts.

Elliott Broidy, the founder and former chairman of California-based Markstone Capital Group LLC, pleaded guilty in the New York County Supreme Court to a felony count of rewarding official misconduct, New York Attorney General Andrew M. Cuomo said.

Broidy will forfeit $18 million in connection with his plea and will cooperate...
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