In a new settlement announced today, New York Attorney General Andrew Cuomo recouped nearly $12 million for the Empire State from four firms and one individual connected to illegal investment actions of the New York State Common Retirement Fund (CRF).
Collectively, New York- and Hong Kong-based Quadrangle Group will pay $7 million, California-based GKM Newport Generation Capital Services (GKM) will pay $1.6 million, New York consulting firm Global Strategy Group and its CEO, Jon Silvan, will fork over $2 million and Sacramento lobbying firm Platinum Advisors will pay $500,000. Additionally, unlicensed placement agent Kevin McCabe will pay $715,000, Cuomo's announcement said today.
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