Thursday, December 3, 2009

HUGE BREAKING NEWS: Pathetic-Fuck Elliot Broidy Pleads GULITY, GUILTY, GUILTY in PENSION CORRUPTION (Told you that weak, softy was GOING DOWN!!!)

(Los Angeles THUG) Markstone Chief Broidy Pleads Guilty in Pension Probe

Here's last night's ZUMA DOGG story on this...I HAMMER THIS COWARDLY, DEVIANT PUSSY. BIG LOS ANGELES IMPLICATIONS ON THIS ONE!!! HEY ELLIOT BROIDY...GREETINGS FROM ZUMA DOGG!!! Can you take me out for dinner with some of your shady money before you enter the prison system, or is it too late. READ THIS, BITCH!


By Karen Freifeld

Dec. 3 (Bloomberg) -- Elliot Broidy, founder of Markstone Capital Partners, pleaded guilty today in New York state court in Manhattan to “rewarding official misconduct” and will forfeit $18 million. Broidy was a target of New York Attorney General Andrew Cuomo’s probe of state pension fund corruption.

“I’ve entered a plea of guilty, sir,” Broidy told judge Lewis Bart Stone in New York State court in Manhattan today. “I made payments to high ranking officials at the New York State Comptroller.”

Broidy faces four years in prison and will cooperate with Cuomo’s probe. Cuomo said Broidy bribed four state pension fund officials, including former New York state chief investment officer David Loglisci. Stone set sentencing for June 10. Loglisci has been charged and has pleaded not guilty.

“This is a different scheme than we have discussed in the past,” Cuomo said on a teleconference call today. “This is an old-fashioned payoff-of-state-officials case. This is effectively bribery of state officials and not just one.”

Cuomo said Broidy paid nearly $1 million to get about $250 million from the state pension fund. Cuomo, who said the probe is still going on, declined to name the other state officials in addition to Loglisci he said were bribed by Broidy. Broidy resigned from Markstone today following his guilty plea, his lawyer Christopher Clark said.

Culture of Corruption

Broidy paid more than $90,000 for rent and living expenses as well as unspecified hospital bills for the girlfriend of a senior official in the Comptroller’s office, along with monthly payments totaling $44,000 to a relative of the girlfriend, Cuomo said. Broidy also paid about $75,000 for luxury travel to Israel and Italy for a senior official and his relatives, Cuomo said.

“So you can see the depth of the corruption in this case,” Cuomo said. He said there was a “culture of corruption” at the pension fund.

Broidy admitted to paying more than $130,000 between October 2003 and October 2005 to friends of the pension fund officials, who were overseen at the time by New York state Comptroller Alan Hevesi. Hevesi has not been charged.

Broidy in court earlier said he paid $75,000 for the trips to Israel and Italy. He said payments were concealed with the use of charitable organizations “and thereby caused false invoices to be submitted” to the Controller’s office.

Broidy gave $300,000 to help finance a movie called “Chooch,” linked to the Loglisci family, Cuomo said. To conceal his involvement, Broidy said, a third-party nominee wrote checks.

Broidy entered into a sham consulting agreement with a family member of a senior official in the Controller’s office. Broidy paid more than $380,000 to the consultant over a period of more than two years.


Broidy said that he won the right to invest $250 million in pension fund money, which generated $18 million of fees for his company. That’s the money he will forfeit.

Broidy has also been under investigation by the U.S. Securities and Exchange Commission.

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