ALBANY—Many of the investments named in a pay-to-play scandal under Alan Hevesi’s tenure as comptroller made money for the state’s pension fund, according to a chart just released by current comptroller Tom DiNapoli.
Since the scandal broke earlier this year–it resulted in the indictments of two of Hevesi’s top aides and other criminal cases against others–DiNapoli has emphasized the changes he has made to the fund since taking office. Hevesi resigned as comptroller in 2006.
“We’re continuing, case by case, to evaluate the fund’s options regarding the Hevesi-era investment relationships,” DiNapoli said in a statement. “We want to clear the clouds left hanging over the Fund by the prior administration with as much sunlight and transparency as possible.”
It’s not immediately clear how these funds performed relative to other similar funds over the same period. Both DiNapoli and Attorney General Andrew Cuomo, whose office has lead the investigation into wrongdoing, have resisted putting a clear figure on the money potentially lost due to investments tainted by pay-to-play.
