Saturday, March 6, 2010

The Hevesi Team is on the Pay to Play Varsity Division

The Hevesi Team is on the Pay to Play Varsity Division

Hevesi accepted six luxury vacations to Israel and Italy from a California venture capitalist Elliott Broidyto gain the right to manage $250 million in state pension-fund assets.Broidy pleaded guilty to a felony charge of rewarding official misconduct -- in cases involving at least four high-level officials in the comptroller's office whom he didn't name -- and had agreed to forfeit $18 million in fees he received for managing pension-fund investments Hevesi took swank trips as 'payoffs' (NYP) * Ex-Controller Alan Hevesi and actress Peggy Lipton caught up in huge pension bribery scandal *** The Morning Leverage: The Most Direct Link To Hevesi Yet * L.A. venture capitalist pleads guilty (LA Times) *** Lies, lies - all lies: Alan Hevesi's falsehoods come back to haunt him in bribery case In 2006 the Daily News Editorial Board interrogated Hevesi about some of these very matters in October 2006 - when the issue was not bribes, but campaign donations from Broidy and his wife. . .Hevesi acknowledged that entrusting Broidy with a quarter-billion was his idea but claimed it was vetted and approved by outside experts. The truth, according to Broidy, was far different. His was a tale of public officials bought and paid for. And cheaply, at that. In return for his $1 million investment in bribes, Broidy reaped an $18 million jackpot in management fees - money he must now give back *** Guilty Plea in Fraud Case Tied to New York Pension *** Here's the Release on Broidy's Guilty Plea in Pay-to-Play Probe* Harding Pleads Guilty in New York State Pension Scam (Update7) Oct ...

Robin Rosenzweig, Broidy’s wife, contributed $80,000 to Hevesi’s comptroller campaigns between 2002 and 2004, according to New York state Board of Elections data. On Sept. 20, 2002, she gave “Hevesi 2002” $20,000. She gave another $10,000 on Oct. 4, 2002. On July 30, 2003, she gave “Hevesi for New York” $25,000, and on Dec. 10, 2004, she gave another $25,000. In addition, Broidy and his wife also each contributed $3,400 to the “Hevesi for Assembly” state campaign of Alan’s son, Andrew, on April 13, 2005.

"Broidy is now cooperating" Cuomo
Hevesi and others have be having sleepless nights. As part of his plea bargain, Mr. Broidy has agreed to forfeit $18 million. He was freed on bail after entering his plea on Thursday and will be allowed to travel, with restrictions. He could get up to four years in prison, but his cooperation could lead to a lighter sentence.

Cuomo said Broidy put up $300,000 that eventually was invested in the indie flick "Chooch," produced by the brother of David Loglisci, Hevesi's chief of pension investments.Loglisci is under indictment. The movie was financed with contributions from a number of businessmen trying to land investments from the state pension fund, valued in May at $109.9 billion. It was distributed on DVD by a company owned by the Quadrangle Group, the private equity firm founded by Steven Rattner, now the former head of the Obama administration's auto industry task force.

"So what did the genius Steven Rattner? Rattner agreed to pay $88,841 to Loglisci for the right to distribute Chooch on DVD. (I would like to know the financial model, which Rattner used to value the DVD rights of Chooch at $88,841.)" (Black Star News ) Car Czar Steve Rattner Is All About "Chooch" * Steve "Chooch" Rattner | Another Obama Headache? * Small film ‘Chooch’ at center of big political storm * The Public Pension Shakedown Why would a smart guy invest in a movie named 'Chooch'? (WSJ)

Indicted NY Consultant Earned Fees From LA Police and Fire Pension Plan Morris -- through his firm Searle & Co. -- earned fees from a $10 million deal in 2005 between the Los Angeles Fire and Police Pensions and Quadrangle Group [4], the hedge fund founded by Obama administration official Steven Rattner. The California Public Employees' Retirement System [5] also made a $100 million investment in Quadrangle in 2005.

True News has reported earlier that Morris had a connection with a California firm called Wetherly Capital Group [2], which split fees with Morris in two deals at the New York fund and three deals in California.

Mod Squad admitted briber Elliott Broidy, whose pension-fund payoffs allegedly included $90,000 to ex-Hevesi aide Jack Chartier and "Mod Squad" actress gal pal Peggy Lipton

The Circle that Controls NY's Pensions Continues

Broidy also rewarded another official in Hevesi's office by providing a "sham" $380,000 consulting contract to a relative, Cuomo said. According to the NYP a source identified the official as former Deputy Comptroller Tom Sanzillo and said the contract went to his brother Frank Sanzillo, a lobbyist at the state Capitol.
Tom Sanzillo is Comptroller Thomas P. DiNapoli First Deputy Controller
Frank Sanzillo was indicted in 1987 in a payroll abuse investigatio, as part of the Manfred Ohrenstein investigation of corruption in Albany. Frank who was once considered a whiz kid worked his way up though the Brooklyn Democratic Organizaton.

(Great Quote by Ohrestein after he was indicted in light of the Bruno Trial over 20 years later. "Since questions about his payroll first arose last spring, the 62-year-old Ohrenstein has maintained that the practices he is accused of were not crimes but rather the traditional way of doing business in the bare-fisted world of Albany politics." NYT Sept 17, 1987)

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