|
SEC sues Alan Bond
|
 |
December 16, 1999: 3:16 p.m. ET
Agency charges pension fund manager took $6.9M in kickbacks
|
NEW YORK (CNN) - - The Securities and Exchange Commission Thursday sued pension fund manager Alan Bond, alleging he fraudulently received more than $6.9 million in kickbacks.
In addition, the U.S. Attorney for the Southern District of New York has filed criminal charges against Bond and a second defendant in the lawsuit, Robert Spruill, a broker, for the same conduct alleged in the SEC complaint.
The suit alleges Bond received kickbacks from brokerage firms in connection with his management of the pension and investment funds of such clients as the National Basketball Association, the Washington Metropolitan Transit Authority and the City University of New York.
Bond was a frequent guest on PBS's "Wall Street Week with Louis Rukeyser”. The SEC alleges he used the kickbacks to purchase more than 75 luxury and antique automobiles and a large home and beachfront condominium in Florida.
Attempts to reach Bond at both his office and home for reaction to the suit and charges were unsuccessful. 
|
|
|
|
|
 |
|
