Thursday, April 30, 2015

Expect Providence Mayor Elorza to admit Providence over-stated Assets in Pension Fund

Remember these articles,

  According to the minutes of the finance committee meeting on Tuesday April 28  the Providence Council was informed by the auditor Segal Co that there is in fact $61 million missing from Providence Pension Plan assets as I had charged . I expect the Mayor to have to inform MSRB,the SEC and retirees this week that they have overstated assets in the Pension plan for as many as 10 years.
      The feds should move in here because misleading municipal bond investors is fraud and a criminal offense.

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