More problems for the liberal Democrat and former Detroit mayor: "Former Detroit Mayor Kwame Kilpatrick is facing federal civil charges of taking part in an influence-peddling scheme involving the city's public-employee pension funds. The Securities and Exchange Commission says Kilpatrick and ex-city treasurer Jeffrey Beasley received $125,000 in private jet travel and other perks from an investment firm. The SEC says that was in exchange for getting the city's pension fund to make an investment favoring the firm. Kilpatrick and Beasley violated federal securities laws, the SEC alleged in a civil lawsuit filed Wednesday in federal court in Detroit."
The article continues: "Kilpatrick says he's innocent of these charges and separate criminal charges brought previous by the Justice Department. 'I truly believe that all of the entities involved in these 'so-called' investigations know that I have done absolutely nothing wrong,' Kilpatrick said in a Facebook message to The Associated Press."
More: "MayfieldGentry Realty Advisors, the investment firm, asked the pension funds' trustees to invest $117 million in a real estate investment trust controlled by the firm, the SEC said. Kilpatrick and Beasley were among the trustees in 2006 and 2007. The SEC says the two should have told the other trustees that they received perks from the investment firm."
SEC Sues Kwame Kilpatrick For Influence Peddling
