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July 12, 2018

Posted  July 17, 2018

Navnoor Kang, the former head of the New York State Common Retirement Fund, the third-largest pension in the country, was sentenced to 21 months in prison for conspiracy to commit securities fraud and wire fraud.  Kang accepted bribes in return for steering over $2 billion worth of investments to particular firms, generating massive commissions for those who bribed him.  The USAO of SDNY coordinated with the SEC, which brought its own civil enforcement action against Kang.  USAO SDNY

Tagged in: Financial and Investment Fraud, Government Procurement Fraud,