By Karen Freifeld
NEW YORK, Dec 5 (Reuters) - The founder of a Texas pension
consulting firm who pleaded guilty to charges stemming from a
"pay to play" scheme at the New York state pension fund will not
have to serve jail time, a state judge ruled on Wednesday.
Saul Meyer, 42, pleaded guilty in 2009 and agreed to
cooperate in the New York investigation, which sent former state
comptroller Alan Hevesi to prison last year. Meyer admitted he
paid Hevesi's chief political consultant $300,000 in return for
getting money from the pension fund to invest.
Meyer, a former partner at Dallas-based Aldus Equity, was
the eighth and last defendant to be sentenced in the years-long
probe, which led to scrutiny of public pension funds nationwide.
"What you did was obviously unacceptable," New York state
Supreme Court Justice Lewis Bart Stone said Wednesday before
sentencing Meyer to a conditional discharge, meaning he would
Stone said Meyer tried to make up for his wrongs by
cooperating with the probe in New York and a similar
investigation in New Mexico. Besides a felony conviction for
securities fraud, he said Meyer paid $1 million in restitution.
Hevesi, 72, was the highest-ranking official convicted in
the New York case. He is scheduled to be released from prison by
The case is People of New York v. Saul Meyer, Superior Court
Information 4755/2009, New York state Supreme Court, New York
For Saul Meyer: Paul Shechtman of Zuckerman Spaeder
For New York attorney general Eric Schneiderman: Rachel Doft
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