A Lively Experiment - GoLocal’s Nagle Joins Panel to Discuss Raimondo’s Pay-to-Play
Monday, July 16, 2018
Others on this week's panel were Jim Hummel - Moderator, Bob Weygand - Former U.S. Congressman, Ken Block - Watchdog RI, and Dan McGowan - Reporter, WPRI.
Raimondo and RI Politics in Focus
This week GoLocal broke the story of the SEC sanctions.
As GoLocal reported, Oaktree Capital has been hit by the United States Securities and Exchange Commission for violating federal regulations including being involved with a pay-to-play scheme in Rhode Island with then-Rhode Island General Treasurer Raimondo as she was a candidate for Governor in 2014.
Raimondo invested in Oaktree as General Treasurer — the fund earned hundreds of thousands in fees from the state’s retirement fund. And, Oaktree charged one of the highest fees - 1.75 according to a GoLocal review in 2015.
Oaktree has admitted no guilt to the charges as a part of the agreement with the U.S. Security and Exchange Commission, which has fined Oaktree - who paid a civil penalty.
According to the SEC, "Between September 2014 and April 2016, three covered associates of Respondent made campaign contributions to candidates for elected office in California and Rhode Island, which offices had influence over selecting investment advisers for public pension plans in those states. Within two years after these contributions, Respondent provided advisory services for compensation to the public pension plans. By providing those advisory services for compensation within two years after the contributions, Respondent violated Section 206(4) of the Advisers Act and Rule 206(4)-5 thereunder." READ THE REST OF THE STORY HERE.
GoLocal also unveiled that Raimondo failed to notify the RI retirement board and the SEC.
Related Slideshow: SEC Suit Against Oaktree Capital Management - July 2018
- UPDATED: SEC Names Raimondo in Pay-to-Play Scheme with Investment Firm Oaktree
- Raimondo Never Disclosed Illegal Contribution from Oaktree to Employees Retirement Board or SEC
- A Lively Experiment - GoLocal’s Nagle Joins Panel to Discuss Raimondo’s Pay-to-Play
- Dickinson Says Siedle Should Be Named Special Prosecutor to Investigate Raimondo & “Pension Reform”
- Raimondo to Kilmartin: Investigate Lawyer Over Missed Deadline, HHS Secretary Escapes Blame
- Brown Urges Raimondo to Release Donation Information to Public, Defends Time at Global Zero
- Raimondo Signs Executive Order Announcing Governor’s Bay Day 2018
- Raimondo Blasts Brown for Not Revealing Global Zero Donors
- Global Zero’s Johnson Calls Raimondo’s Claims “Baseless & Bizarre”
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- UPDATED: Thanks to Raimondo, RI Retirees May Own a Piece of AC Milan Via a GOP Mega-Donor
- PawSox Legislation Headed to Raimondo, Brown Calls for Veto
- 2018 Governor’s Race Playbook: Chaotic Week Ends With Question - Will Raimondo Veto Mattiello’s Bill
- Raimondo Signs Bills to Help Settle Lawsuits in St. Joseph’s Pension Collapse
- Is There Trouble for Raimondo and McKee in Rhode Island, After NY Congressional Upset
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- Moderate Party’s Gilbert Blasts Raimondo, Mattiello Over Use of Eminent Domain for PawSox Stadium