Dallas-Based Aldus Exec Caught in New York Pension Fund Scandal
The pension fund scandal that attorney general Andrew Cuomo's investigations and prosecutions have roiled appears to be spreading out. Today Cuomo and the SEC both charged the managing partner of private equity firm Aldus Equity Partners, Saul Meyer, with felony fraud. Meyer, based in Dallas, is an advisor to pension funds, and the people who like to skim from them, all over the country. Rumblings of this indictment were heard earlier, when New Mexico suddenly fired Aldus as its private equity advisor. Talking about the case, Cuomo said, "this is all across the nation, and it's continuing today," and indicated he was working with folks in other jurisdictions about it. We expect he's talked with Los Angeles pension fund officials, who have lately noticed one of their funds was involved with Hank Morris, one of Cuomo's indictees, via private equity firm Quadrangle, which recently got booted by both New York state's and New York City's pension managers.
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