We've heard a lot about the pay-to-play scandal that has erupted in the pension world (pension news), where kickbacks to plugged-in, often conflicted consultants have stoked the ire of regulators and prompted reform proposals. Sometimes the pay-to-play attempts are even more brazen. And all would-be scammers should be aware the FBI has set up at least one sting operation to nab people like you.

A former analyst at the Utah Retirement Systems, which is seeking managers for pension money, solicited a kickback from a London hedge fund. The hedge fund notified authorities and a sting operation was set up to nab Cameron Hayes Cox, 28, of Bountiful, Utah.

According to the Salt Lake Tribune, Cox, while still employed by the Utah retirement service, told his point person at the fund that in exchange for $150,000, he would ensure the Utah Retirement Systems approved an agreement for it to manage $50 million. The offending analyst pled guilty and was sentenced to a year in jail.

For more:
- here's the article

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