Sunday, July 15, 2007

Ethics probe for Hevesi's sons

State and Albany County investigators are examining whether the sons and top aides of former State Comptroller Alan G. Hevesi improperly reaped benefits from his control of the state’s $154 billion pension fund, according to people involved in the investigation.

Hevesi’s Sons and Aides Face Pension Fund Investigation

They are scrutinizing the relationship between Mr. Hevesi’s office and several companies, including Third Point Capital, a hedge fund. In 2005, the comptroller’s office decided to invest a portion of the pension’s money in a fund that invests in hedge funds, including Third Point. Several months later, Third Point hired Mr. Hevesi’s elder son, Daniel.

In addition, investigators are reviewing records of political contributions from investment firms and their executives to Mr. Hevesi’s younger son, Assemblyman Andrew Hevesi, a Queens Democrat. It is legal in New York State for investment managers to contribute to comptrollers (or any elected official), and they have long done so. Money managers vie aggressively for the job of investing blocks of public pension money, and New York State’s fund is so large that even a tiny piece could generate substantial management fees. It would be illegal for companies to make contributions with the understanding they would receive business or favorable treatment, but such a case would probably be difficult for investigators to prove.


Photo from NY Times

15 comments:

connie said...

Oh boy! Alan sure has taught his children some of the finer aspects of public office. No more deals for him, HARD TIME!!!!!

You got to love Queens politics! Politically speaking, the borough needs a good enema.

Jennifer said...

His kids look like they are going to be sick.

Anonymous said...

Yey, they look like a bunch of gas-house mugs.

Taxpayer said...

Melinda-san, what insider secrets did the old man whisper in your ear during the pillow talk?

Who else did you tell?

How rich did you all get on the backs of retirees?

Anonymous said...

Which son has the drug problem?

georgetheatheist said...

Get the nets ready. They'll be jumping from the windows soon!

Anonymous said...

Are there any Middle Village reps who aren't dirty?

lookin' 4 justice said...

Let's hope that the investigators keep up the good work shaking down all of them rotten apples from the Hevesi tree !

Just look at those 2 boys' arrogant nasty faces ! They ain't exactly the Brady Bunch !

Between Mc Laughlin, Alan Hevesi & Sons and now "Pinky" Gallagher....we might see a bumper crop of crooks soon behind bars !

Throw 'em all in with the "general pop" in the exercise yard and let them make "friends" the HARD way in the prison showers ( without the benefit of a bar of soap) !

After all.....isn't that the way they "gave it" to their constituents ? !!!

Mac said...

Andy, say it ain't so... say it ain't so.

Anonymous said...

The curtains are about to close on another corrupt political dynasty. I hope the Staviskys and Crowleys go next!

No more dynasties!

Anonymous said...

The Staviskys are starting to lose their once faithful heavilly Jewish voting base in the Mitchell Gardens /Linden Hill Flushing and Bay Terrace areas (due to geriatric attrition).

This is probably why Toby and her troupe have been cultivating a new Asian base ( like John Liu....oh yes....and behind the scenes maybe even the likes of Tommy Huang) !

Be patient....that dynasty is about to fall.....their close ties to the Mc Laughlin camp will take those arrogant deceitful pack down when Brian starts to sing !

There is no honor among thieves, especially when one is about to turn state's evidence and give another up in exchange for not doing any jail time !

And what will become of the Staviskys' huge political campaign war chest that they've amassed over all these years ?

Some of it may already have been deposited in the Cayman Islands !

Connie said...

Sing out, Brian! Sing out!

Anonymous said...

"You got to love Queens politics! Politically speaking, the borough needs a good enema."
Well said--it's needed that for a terribly long time...about 45 years! (The only reason the late BP Manes didn't see jail time was his 1986 death!)

Anonymous said...

They remind me of the Malendez brothers.

Probibally wondering why they are there because crooks and alleged rapists get the soft touch from the press.

Anonymous said...

What do you think that their butts would be worth in the prison showers ? !!!

Get out the old "KY" ointment for fast and soothing relief !