Former 'power broker' and investment adviser plead guilty in pay-to-play scandal

Oct 6, 2009 @ 1:46 pm

By Associated Press

Former New York power broker Raymond Harding has pleaded guilty to security fraud charges in the "pay-to-play" scandal at the state's public pension fund.

State Attorney General Andrew Cuomo (KWOH'-moh) says Harding entered the plea Tuesday in Manhattan.

Harding was the longtime head of New York's now-defunct Liberal Party.

He was charged in April with accepting more than $800,000 in kickbacks from investment companies doing business with the pension fund.

Prosecutors say he got the money as payback for political favors performed over the years for former state comptroller Alan Hevesi.

Hevesi has not been charged.

Prosecutors also announced a guilty plea by Saul Meyer, a Dallas investment adviser accused of paying kickbacks to Hevesi's political consultant

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