The battle to rid New York State pension and retirement funds of pay-to-play and placement agent “kick-backs” crept steadily forward today after Elliot Broidy, founder and chairman of Markstone Capital Group, plead guilty to offering millions of dollars in bribes for investment contracts.

According to state Attorney General Andrew Cuomo, Brody plead guilty in state Supreme Court before Justice Bart Stone in New York City. Cuomo said Broidy acknowledged paying nearly $1 million in gifts to the Office of New York State Comptroller (OSC) officials in order to obtain $250 million in investments from the $116.5 billion New York State Common Retirement Fund (CRF).

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