US - Former New York State comptroller Alan Hevesi has begun his prison sentence for his role in a pay-to-play scandal while overseeing the $124.8bn New York State Common Retirement Fund.
Hevesi, pictured in this mug shot released by the New York Department of Correctional Services after he was sent to the upstate medium-security Ulster Correctional Facility, received a one-to-four year term - the maximum sentence available by law - after admitting to a second-degree charge of receiving reward for official misconduct in October.
As part of his guilty plea, Hevesi admitted he accepted nearly $1m in gifts - including $75,000 in travel expenses - from his friend Elliott Broidy, a principal of Markstone Capital Partners, as a reward for giving preferential treatment to their investment proposal.
Hevesi improperly favoured and ultimately approved $250m in pension fund investments to Markstone, resulting in the fund paying $18m in management fees to the company.
He became the highest- ranking official convicted in a three-year investigation by state Attorney General Andrew Cuomo. (Global Pensions: 18 April 2011)
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