Saturday, 28 March 2015
Last updated 23 hours ago
Dec 14 2012 | 10:43am ET
Alan Hevesi, the former New York State Comptroller who presided over a pay-to-play scandal at the state's top pension fund, has been released from prison.
Hevesi spent 20 months in a medium-security facility in Marcy, N.Y., for his role in the scandal after pleading guilty to official corruption in 2010. He admitted that he approved a $250 million investment by the New York State Common Retirement Fund in private equity firm Markstone Capital Group in exchange for $1 million in benefits from that firm's then-chairman, Elliott Broidy.
The 72-year-old was sentenced to up to four years in prison last April, but won parole last month.
"I'm very, very happy to be home with my family," Hevesi told reporters outside of his Queens, N.Y., home yesterday.
Hevesi was one of a number of people to plead guilty in the wide-ranging scam, which engulfed several prominent alternative investment funds.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…