Attorney General Andrew Cuomo has issued more than 100 subpoenas of placement agents doing business before public pension funds, part of his ongoing inquiry into the large pools of public money.
Those subpoenaed, as reported today, include some of Albany’s most prominent lobbyists. Cuomo said he did not believe that any elected officials were among the placement agents being scrutinized. He said he expects State Comptroller Tom DiNapoli to publicize a list of placement agents doing business before the fund soon.
“What’s the old saying, sunlight is the best disinfectant,” Cuomo told reporters on a conference call. An analysis by Cuomo’s office found that about half of all the placement agents were not licensed with the Securities and Exchange Commission.
