Have pension funds in your community or state been victimized by white-collar criminals?

Discussion question week 3 white collar crime

Yes, pension funds in many communities and states have been victimized by white-collar criminals. In the past decade, some high-profile cases of fraud involving public pension funds have emerged. For example, in 2013 a former executive director of the New York State Common Retirement Fund was sentenced to prison for soliciting bribes from investment advisers who wanted access to the fund’s $160 billion portfolio. The U.S. Securities and Exchange Commission has also taken action against numerous officials involved in schemes to defraud pension plans at state and local government agencies across the country, including schemes involving kickbacks, misappropriation of assets, false performance claims and insider trading.