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Wissman received millions of dollars in fees, including a $5 million fee for funneling a $500 million investment to an energy fund run by the Carlyle Group and Riverstone Capital, for his help in directing huge pension fund investments to hedge funds, The New York Times reported Wednesday.
Such fees are legal but Wissman is a long-time friend of David Loglisci, the chief investment officer of New York's pension fund, who was indicted last month on 123 counts along with another aide to former state Comptroller Alan Hevesi.
The state has accused the pair of putting access to the state's $122 billion pension fund up for sale and reaping millions in the process, the Times said.
Wissman, who pleaded guilty March 31, will pay $12 million over the course of several years. He will also cooperate with a joint New York state and Securities and Exchange Commission investigation, his lawyer said.
Copyright 2009 by United Press International.
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