Free Republic

A San Marino businessman with long-standing connections to Los Angeles City Hall has pleaded guilty to criminal securities fraud as part of a probe of alleged pay-to-play corruption at a New York state government pension fund, prosecutors said Tuesday. Julio Ramirez Jr., a former employee of Wetherly Capital Group, a Los Angeles investment marketing firm, allegedly gave kickbacks to a top political advisor of former New York Controller Alan Hevesi. The fees, paid secretly to Henry "Hank" Morris, helped make certain that the New York State Common Retirement Fund would invest with Wetherly clients, New York Atty. Gen. Andrew Cuomo...

Two of Los Angeles Mayor Antonio Villaraigosa's appointees to a city pension board resigned today, one month after receiving a letter from the Securities and Exchange Commission asking them to identify income they had received from companies doing business with their agency. Sean Harrigan and Elliott Broidy, two members of the Los Angeles Fire and Police Pensions board, were asked to provide information to the SEC, which is investigating allegations of kickbacks at a New York state pension fund. Appearing at today's board meeting, Harrigan said the inquiry had created "a frenzy of media activity" that had placed him in...