Fed Probe Blows Lid Off Of Public Sector Pension Fraud!

Posted on December 8, 2012

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Michigan (Tresa Baldas-Detroit Free Press) – The federal government has snared another defendant in its pension fraud probe: an Atlanta businessman who is charged with embezzling more than $3 million from three local pension funds.

Roy Dixon is accused of using pension funds to build his $8-million mansion and bribing former Detroit Treasurer Jeffrey Beasley with cash and a vacation.

Dixon was indicted on 13 charges of conspiracy to commit fraud, extortion and bribery on Friday — 10 months after Beasley was indicted on charges that he ran a bribery and kickback scheme that cost two Detroit pension funds $84 million in losses.

Beasley, ex-Detroit Mayor Kwame Kilpatrick’s fraternity brother, is accused of taking bribes in exchange for approving more than $200 million in pension fund investments. The alleged bribes came in many forms, including luxury vacations, court records show.

Read more:     http://www.freep.com/article/20121208/NEWS01/312080059/Another-man-charged-in-pension-fraud-probe

Posted in: Corruption