February
2012
Wednesday, December 09, 2009
Josh Beckerman, The Wall Street Journal, 

Just Who Is Elliott Broidy, Anyway?

Elliott Broidy emerged on the main stage of New York’s pay-to-play scandal Thursday. His guilty plea to a felony charge of rewarding official misconduct could mean up to four years in prison, according to New York Attorney General Andrew Cuomo, despite the fact that he is cooperating with the probe.

Broidy resigned as chairman of Markstone Capital Group, the little-known firm that got him into hot water, and agreed to forfeit $18 million to New York, the same amount that Markstone charged the New York State Common Pension Fund.

“Broidy paid nearly a million dollars in bribes to get a quarter billion dollar investment,” according to a statement from Cuomo. According to the attorney general, Broidy acknowledged that he “funneled $300,000 to “Chooch” (the generally unseen movie that has been previously cited in the scandal), entered a “sham consulting agreement,” and paid over $90,000 to the girlfriend of a high-ranking official in the New York comptroller’s office, among other things.

Posted by Tracey on 12/09/09 at 03:04 PM •  (0) Comments

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