Main | Thursday, May 20, 2010

Intrepid Museum Head Bill White Under Investigation Over State Pension Fund

Yesterday Bill White abruptly resigned after 20 years as the openly gay head of NYC's Intrepid Air Sea and Space Museum. Today the New York Post reveals that White has been under investigation since 2007 in a corruption probe of the state pension fund.
The probers were trying to determine if he solicited campaign contributions for disgraced ex-state Comptroller Alan Hevesi from Guggenheim Advisors, a branch of the Bank of Ireland, in exchange for the right to manage $447 million in state pension funds. Cuomo last year subpoenaed dozens of companies, including Bill White & Associates, that acted as middlemen and received fees for arranging access to pension-fund monies. White's firm received a $2 million fee from City Investment Fund LP, a real-estate firm that was chosen to invest pension funds. Late last year, Cuomo, who plans to run for governor, returned a $1,000 contribution from White.
Former state Comptroller Alan Hevesi resigned amidst a massive corruption scandal in late 2006. He plead guilty to defrauding the government and was banned from ever holding elective office again.

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