weather unavailableweather unavailable
Make us your home page

The Buzz

From the staff of the Tampa Bay Times

Pam Bondi pursues fraud charges related to Fla pension



Florida prosecutors are investigating charges that a major New York bank hired to safeguard retirees' savings cheated them by overcharging for currency-exchange trades.

Attorney General Pam Bondi plans to take over a whistleblowers' lawsuit alleging that the Bank of New York Mellon defrauded Florida's pension fund with the secret markup on billions of dollars, collecting a higher currency-conversion price than it actually got and pocketing the difference. The whistleblowers filed a similar lawsuit in Virginia.

"On behalf of the state of Florida, we will not tolerate these actions and they will be held accountable,'' Bondi said in a statement.

Story here

[Last modified: Saturday, February 5, 2011 4:45pm]


Join the discussion: Click to view comments, add yours