Top SEC Whistleblower Siedle to Feature Rhode Island in Upcoming Book, “Who Stole My Pension?”
Thursday, November 21, 2019
Edward “Ted” Siedle, one of Rhode Island Governor Gina Raimondo's biggest foes who was recently featured on CNBC for his forensic financial work, appeared on GoLocal LIVE where he spoke to his role as a whistleblower, his current investigation in Cranston — and the role Rhode Island will play in his upcoming book.
“I’m working on a new book, ‘Who Stole My Pension: How to Stop the Looting’ where I look globally at pensions in the UK, Austrialia, and Japan…all over the place,” said Siedle.
And Rhode Island.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“In virtually every chapter where I explain what not to do, Rhode Island is cited,” said Siedle. “So many things have been done wrong in Rhode Island. “
“I was just reviewing for the book - when I first came to Rhode Island, the pension disclosed fees of $10 million — now it discloses fees of $90 million. And within six months of my being on the scene, the disclosure went from $10 million to $40 million,” said Siedle.
“Despite the cuts in COLA benefits that were supposed to make the pension more sustainable, the pension is no more funded today than it was [almost] 7 years ago," he added.
Siedle, who is currently investigating Cranston pension funds in a contract with the city, said he expects his work there to wrap up there “by the end of the year.”
CNBC Feature
Siedle spoke to being featured on the recent CNBC segment.
“The main point was to show that whistleblowers don’t have to go through hell,” said Siedle.
Siedle noted that the program had been “in the works” six months prior. “It did not coincide with anything currently going on.
“Whenever you have whistleblowers, the criticism is that they’re financially or politically motivated by disgruntled employees. The current Trump whistleblower raises the issue, does it really matter, do we really care whether Ted Siedle is a Democrat, Republican, or independent — or do we care that the Trump whistleblower was…or does the evidence tell anything else, was it a disgruntled employee,” said Siedle. “All we really care about is are they telling the truth.”
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