New York reaches $7 million settlement in alleged pension-fund scandal

Washington Post – Law enforcement officials moved a step further in their investigation of the Obama administration’s former auto industry adviser, reaching settlements with the private-equity firm he co-founded in an ongoing corruption probe that has touched several prominent Wall Street firms.

In announcing a $7 million settlement with Quadrangle Group, New York Attorney General Andrew M. Cuomo noted that the agreement “does not cover former Quadrangle Managing Principal Steven Rattner,” who remains under investigation. Quadrangle has renounced Rattner’s role in the alleged scandal and has agreed to help the investigation, Cuomo’s office said.

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