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Six Pennsylvania PSERS Trustees Seek Termination of Executive Director, CIO

FBI Said to Seek Evidence of Kickbacks, Bribery at Pennsylvania PSERS

FBI Probe Into Pension Fund s Real Estate Deals Seeks Evidence Of Bribery, Kickbacks

FBI Probe Into Pension Fund’s Real Estate Deals Seeks Evidence Of Bribery, Kickbacks A federal investigation into Pennsylvania s largest pension fund has come into focus. The U.S. attorney s office in Philadelphia has issued subpoenas to several high-ranking officers of the Pennsylvania Public School Employees Retirement System as part of an investigation into possible honest services fraud and wire fraud, Spotlight PA reports. The investigation has focused on an inconsistent financial performance report from the end of last year and several real estate purchases around PSERS headquarters in Harrisburg. PSERS spent $13.5M starting in 2017 on real estate in the immediate vicinity of its headquarters, which is also a short walk from the Pennsylvania Statehouse and Harrisbug s Amtrak station. Three million dollars of that total went into the acquisitions of the properties themselves; the rest was spent on a combination of management fees, de

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