Another Pension-Scheme Charge From Cuomo, With ‘More Actions’ Likely

Complaint against Saul Meyer

ALBANY—Attorney General Andrew Cuomo just completed a conference call announcing charges against Saul Meyer, a partner in Aldus Equity. Meyer is the latest person implicated in Cuomo’s ongoing probe of how the state's pension fund was used as a pay-to-play device during the tenure of former comptroller Alan Hevesi.

So far, the investigation has resulted in indictments of Hank Morris and David Loglisci, top Hevesi aides; charges against Robert Harding, the former chairman of the state Liberal Party who allegedly arranged for Hevesi's son Andrew to win a seat in the State Assembly, and the guilty plea of hedge-fund manager Barrett Wissman.

Cuomo was asked, speculatively, what might come next: Charges against Steven Rattner, now a top Obama aide, who paid Morris a finder's fee for business before the state pension fund? Against Daniel Hevesi, a former state senator who, as outline in Cuomo's complaint above, benefited from the alleged deal Morris struck with Meyer? Against some of the lawyers and lobbyists with business before the firm?

"I will give you the answer that you've come to know and love: it's an ongoing investigation, and stay tuned," Cuomo told reporters. He later elaborated: "There will be more actions taken. But don't take that as indicative of any of the companies that you just mentioned. I'm not ruling anybody in, I'm not ruling anybody out."

As a result of today's actions, he said, the state pension fund has terminated its relationship with Aldus Equity. The New York City pension fund "plans to terminate Aldus and will be moving in that direction."

Cuomo emphasized that "it's an ongoing scam. We're not talking about things that happened yesterday, we're talking about things that are happening today." The problem is nationwide, he said, but particularly bad in the Empire State.

"I believe New York, the situation tends to be worse because in New York we have the confluence of two factors: we have a sole trusteeship, which is all but unique in the nation, combined with a campaign finance system that allows exorbitant contributions," he said. "When you put that money of campaign finance together with sole trustee, it's TNT. It causes an explosion."