The SEC announced today that it has charged Aldus Equity Partners, L.P. and one of its founding principals, Saul Meyer, in connection with a multi-million dollar kickback scheme involving the New York State Common Retirement Fund.
James Clarkson, Acting Director of the SEC’s New York Regional Office stated that “as alleged in our complaint, Aldus was chosen by the pension plan because of Aldus’s willingness to illegally line the pockets of others. When another investment manager refused to pay kickbacks, that firm was rejected and Aldus cashed in.”
The SEC alleges that Meyer caused Aldus to pay a shell company owned by Henry “Hank” Morris approximately $320,000 in sham finder fees, in exchange for which David Loglisci caused the pension fund to invest a total of $375 million with Aldus from 2004 to 2006. The SEC previously charged Morris and Loglisci in the case.
The SEC also stated that in a parallel criminal action, the NY AG’s office today announced the filing of a criminal complaint against Meyer.