VIDEO LIVE: Top SEC Whistleblower Siedle Endorses Fung for Governor, Calls for Investigation
Wednesday, October 24, 2018
Former Securities and Exchange Commission lawyer, Forbes columnist and record-setting federal financial whistleblower Ted Siedle endorsed GOP candidate Allan Fung for Governor.
Siedle on Tuesday night was featured in the PBS Frontline special which investigates the role of state governments and Wall Street in driving America’s public pensions into a multi-trillion-dollar hole. Frontline investigates the volatile fight over pensions playing out in Kentucky, and examine the broader consequences for teachers, police, firefighters and other public employees across the country.
In July, the Commodity Futures Trading Commission (CFTC) announced an award of approximately $30 million to "a whistleblower who voluntarily provided key original information that led to a successful enforcement action." GoLocal learned that former SEC lawyer and Forbes columnist Ted Siedle is the recipient of the award.
The award is the largest award made by the CFTC’s Whistleblower Program to date and is the fifth award made by the program.
Fung Taps Siedle
“Raimondo basically took away grandma’s COLA and gave it to her friends on Wall Street. When cutting benefits to our seniors, she took that money and lined the pockets of her friends in New York via the exorbitant fees that go along with hedge funds,” said Mayor Fung.
Upon taking office, Fung said he will work at restoring COLAs on a "more frequent basis in a responsible way."
In a preemptive press release issued early on Wednesday morning by the Raimondo campaign, spokesman Mike Raia said, “Allan Fung could feed a small village with the amount of spaghetti he’s throwing against the wall hoping something will stick. Later today he’s going to unveil a ‘plan’ to undo the pension reforms he supported. One can only hope he will at least change the typeface of his press release so it doesn’t perfectly mirror Joe Trillo’s pandering theatrics from last week.”
In a recent guest MINDSETTER™ column in GoLocalProv, Siedle wrote, “There are three facts that should be abundantly clear to all Rhode Islanders by now—three unprecedented developments:
1. [Gina] Raimondo raised unprecedented amounts of money from out-of-state mystery donors to support her political ambitions.
2. Under Raimondo’s leadership, the state pension paid unprecedented amounts of money to Wall Street hedge funds in an outrageous gamble.
3. The state pension suffered unprecedented losses—lost at least half billion as a result of Raimondo’s gambling.
These indisputable facts, I submit, warrant investigation of what I’ve called the largest crime in Rhode Island history.
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- EXCLUSIVE: Forbes’ Siedle Considering Run for Rhode Island Attorney General
- Siedle: Red Flags Pepper RI Pension’s Investment In Governor Raimondo’s Venture Fund
- Siedle: WikiLeak Exposes Seth Magaziner’s Dependence on Daddy
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- Siedle: FBI & SEC Should Investigate Raimondo & Magaziner’s Billion-Plus Losing Hedge Fund Gamble
- Forbes Columnist Siedle: “Rhode Islanders Were Lied to by Raimondo”
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- Union Leaders and Conservatives Both Say RI Needs a Siedle Candidacy
- Dickinson Says Siedle Should Be Named Special Prosecutor to Investigate Raimondo & “Pension Reform”
- EXCLUSIVE: Siedle Announces Political Plans for 2018
- Guest MINDSETTER™ Siedle: Seeking Justice for RI Pension Stakeholders
- Siedle Receives Record $30M Payment from Commodity Futures Trading Commission
- Guest MINDSETTER™ Siedle: The Largest Crime in RI History
- Potential RI AG Candidate Siedle Scores Additional $30M in Whistleblowing Case - Total Now $78M
- Siedle in Talks to Buy Property in RI in Anticipation of AG Run
- Moore: Is Siedle Smooth Enough To Get Elected?
- Siedle: St. Joseph’s Pension Fund Bankruptcy Shows RI Needs AG Who Knows Pensions
- What RI Needs in Next AG: Guest MINDSETTER™ Siedle
- Siedle: NY AG Subpoenas TIAA, Kilmartin Once Again Hits Snooze Button
- Trillo Says He Would Restore COLAs, Appoint Siedle Special Counsel if Elected RI Governor