The New York Times
Wed, October 13, 2010 -- 5:35 PM ET
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Steven Rattner, N.Y. Financier, Settles With S.E.C. in Pension Case
Steven Rattner, the former car czar, has agreed to settle a
kickback case with the Securities and Exchange Commission, a
person with knowledge of the negotiation said Wednesday.
Mr. Rattner will accept a multiyear ban from the securities
industry and pay a fine of more than $5 million, the person
said. He is still in negotiations over a similar settlement
with the office of the New York attorney general, Andrew M.
Cuomo.
The settlement, which is expected to be announced on
Thursday, caps off a multiyear investigation by the
government into kickbacks paid to officials with New York's
pension fund. Earlier this month, Alan Hevesi, the state's
former comptroller, pleaded guilty to a corruption charge
involving the state fund.
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