A former employee of the US pension fund stole $ 2 billion of New Yorkers savings
Photo: depositphotos
A former employee of the US Pension Fund will appear before the court for the use of pension money for other purposes, as well as for receiving a bribe worth more than 100 thousand dollars in the form of expensive gifts, travel, VIP-tickets to the concert of Paul McCartney, cocaine and prostitutes.
These bribes were given to him by two brokers for transferring to 2 a billion dollars from a pension fund, which they managed to make profits on the stock exchange.
Navrun Kahn, 38, served as director of the New York State Pension Fund’s fixed-income department from January 2014 to February 2016, reports CBS News.
Two brokers: 45-year-old Greg Schönhorn and 58-year-old Deborah Kelly, who received millions of investment money management fees, were also charged. Seonhorn officially pleaded guilty.
The assortment of bribes was very colorful and expensive: $50 was spent on hotel rooms, $000 on restaurants and bars, $50 on luxury watches, $000 on bracelets for Kahn's girlfriend and another $17 on tickets to a Paul McCartney concert.
The state fund of $ 184 billion provides pension payments to more than 1 million pensioners who worked in state and local governments, including firefighters and police officers. Kan oversaw $ 53 billion of these funds.
After his arrest, he dismissed all accusations.
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