Beverly Hills 12/4/2009 4:16:42 AM
News / Business

Elliot Broidy Pleads Guilty to Bribing Pension Officials

Finance World News Update by EQUITIES Magazine

California venture capitalist Elliott Broidy plead guilty to charges that he ensured his company land a quarter-billion dollar deal with New York’s pension fund through nearly $1 million in illegal gifts to state officials.

The Markstone Capital Partners chairman entered the plea in a Manhattan courtroom this morning, admitting to a felony charge of rewarding official misconduct. His charges come in connection with New York Attorney General Andrew Cuomo’s investigation of pay-to-play scandal in the office of former state comptroller Alan Hevesi.

Though only David Loglisci has been charged in the case so far, four high-level officials in the comptroller’s office accepted gifts or other lucrative benefits from Broidy, said Cuomo.

"This is an old fashioned payoff of state officials," Cuomo said. "This is effectively bribery of state officials, and not just one, but a number of state officials in the comptroller's office."

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