MANHATTAN (CN) - The SEC charged Dallas-based Aldus Equity Partners and one of its founders, Saul Meyer, with a multimillion-dollar kickback scheme involving the largest pension plan in the state. "Aldus was chosen by the pension plan because of Aldus's willingness to illegally line the pockets of others," said James Clarkson, director of the SEC's New York Regional Office. "When another investment manager refused to pay kickbacks, that firm was rejected and Aldus cashed in."
It's part of a series of political corruption allegations involving politicos allegedly using the New York State Common Retirement Fund as a money tree. Previously charged were Henry Morris, a former adviser and fund raiser for New York State Comptroller Alan Hevesi; former Deputy Comptroller and Chief Investment Officer of the New York State Common Retirement Fund David Loglisci; Raymond Harding, former leader of the New York Liberal Party; and hedge fund manager Barrett Wissman.
In its latest complaint, the SEC say Aldus paid a shell company owned by Morris $320,000 in "finder's fees," in exchange for which Loglisci had the pension invest $375 million with Aldus from 2004 to 2006.
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