Stephen Del Sesto: 17 Who Made a Difference in 2017
Wednesday, December 27, 2017
The largest pension failure in Rhode Island -- the collapse of the St. Joseph pension fund -- reeks of mismanagement, financial malfeasance, and political and financial deceit. Stephen Del Sesto is the court-appointed receiver who is responsible to investigate and then remedy the more than $100 million shortfall needed to make nearly 2,800 retirees whole.
Del Sesto has brought on 38 Studios hero Max Wistow as special investigator, but the challenges are immense. Del Sesto and Wistow must take on some of the most powerful political interests in the state -- Rhode Island Attorney General Peter Kilmartin, Bishop Thomas Tobin of the Diocese of Providence, and the billion-dollar Prospect of California hospital group.
To date, Kilmartin and Tobin have filed multiple motions trying to delay and limit the scope of the subpoenas.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTFor the thousands of retirees, Del Sesto has been -- and needs to be -- resolute to force the recovery of tens of millions of dollars to begin the process of stabilizing the pensions.
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