BUSINESS BRIEFING / INVESTING
TIMES WIRE REPORTS
An Irvine company that advises government pension funds on their investments has agreed to pay $2 million to extract itself from a New York corruption investigation.
The settlement will spare Pacific Corporate Group from criminal or civil charges in a probe led by state Atty. Gen. Andrew Cuomo.
Regulators had accused the company of paying an illegal kickback in order to land a $750-million deal with New York’s retirement system.
The company agreed to return its revenue from the deal.
The company said the settlement would remedy “the improper actions of a former executive.”
