Richardson Donor Agrees to Restitution Settlement with New York

Steven Rattner

NewsNM note - Bill Richardson campaign donor Steven Rattner who also is the target of New Mexico Attorney General Gary King's very deliberate investigation into pay-to-play scandals involving the New Mexico State Investment Council, agreed to a large financial settlement with the state of New York over similar allegations in the Empire State.
Bloomberg - Steven Rattner, a co-founder of the private-equity firm Quadrangle Group LLC, will pay $10 million to settle kickback allegations involving New York’s pension fund, less than half of the $26 million state Attorney General Andrew Cuomo sought in a lawsuit. Rattner also agreed to be banned from appearing “in any capacity” before any public pension fund in the state for five years, the attorney general’s office said yesterday in an e- mailed statement. Cuomo, New York’s governor-elect, sought a lifetime ban from the securities industry. “I am gratified that we have been able to reach an agreement in this case, as it resolves the last major action of our multiyear investigation,” Cuomo said in the statement. Read full story here:

Richardson Donor Agrees to Restitution Settlement with New York