New York Attorney General Andrew Cuomo is taking a look at some big-name private equity funds and whether they engaged in pay-to-play shenanigans with state investments, the Washington Post reports. The news follows a move by Cuomo and the SEC to file criminal and civil charges last month against David Loglisci, a New York pension fund's ex-CIO, and a few others in connection with alleged kickbacks and other bribes in return for directing money to certain hedge funds and private equity funds. They are accused of  obtaining $30 million in fees and gifts. They also deny wrong-doing.

The Carlyle Group, the Post reports, was a big recipient of pension money from New York. It is cooperating in the probe. If you haven't figured it out yet, the use of middlemen to gain public money is a really iffy strategy right now. The whole field has been tainted by these sorts of scandals. 

For more:
- here's the article

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