A Los Angeles investment firm run by a well-known Southern California political operative has become ensnared in a widening probe into the fees paid to advisors who help place investments in public pension funds.
Wetherly Capital Group has come under scrutiny for a $313,750 payment it made to a firm run by a New York political advisor who was arrested last month on charges of running a kickback scheme involving New York state’s pension fund.
Wetherly has not been accused of wrongdoing and is not under investigation by Cuomo’s office, a person with knowledge of the probe said. Investigators are trying to determine the circumstances surrounding Wetherly’s payment to Morris’ firm, the person said.
& #8226;
Read the full
Los Angeles Times
story.