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Carlyle Faces Probe Over $1.3B Investment Scheme

Law360 (April 14, 2009, 12:00 AM EDT) -- New York prosecutors have reportedly launched a probe into the Carlyle Group over whether the private equity firm illegally paid middlemen to secure $1.3 billion in investments from the state's Common Retirement Fund.

In an inquiry related to fraud, larceny and bribery claims and charges levied against state officials in March, New York Attorney General Andrew Cuomo is investigating Carlyle and other funds and firms that did business with the state's employee pension fund, according to news reports. The U.S. Securities and Exchange Commission has launched...
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