N.Y. Pay-to-Play Plot Fueled by Bribes, U.S. Says
- Fund director allegedly got bribes of drugs, McCartney tickets
- ‘Pay-to-play is back,’ U.S. Attorney Preet Bharara says
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When Navnoor Kang interviewed for a job to manage fixed-income investments for New York state’s pension fund, he lied about why he was fired by his former employer -- failing to disclose that he accepted concert tickets and other gifts from clients, authorities said.
He got the position with the New York State Common Retirement Fund in January 2014 and soon reverted to old habits, handing out the state’s fixed-income business in return for cocaine, concert tickets, cash and prostitutes, they said.