Rattner to Pay $10 Million to Resolve Cuomo Pension Fund Probe
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Steven Rattner, a co-founder of the private-equity firm Quadrangle Group LLC, will pay $10 million to settle kickback allegations involving New York’s pension fund, less than half of the $26 million state Attorney General Andrew Cuomo sought in a lawsuit.
Rattner also agreed to be banned from appearing “in any capacity” before any public pension fund in the state for five years, the attorney general’s office said yesterday in an e-mailed statement. Cuomo, New York’s governor-elect, sought a lifetime ban from the securities industry.