Detroit Pension Fund
Federal authorities say an executive overseeing $200 million in real estate investments by Detroit’s municipal pension has pleaded guilty to conspiring to bribe the city treasurer to get business.
“I think that this is just the tip of the iceberg,” Charlie Langton said. “There’s a lot of money in the pension fund and for many, many years Kwame Kilpatrick had appointees and had some control. This could even get bigger.”
Protestors call for Detroit Pension Fund’s General Counsel’s firing. Meanwhile, a local businessman is locked in a legal fight with the Fund.