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Feds Expands Pension Fraud outside New Jersey

Pension Fraud

Mary Williams Walsh of the NYT reports, Pension Fraud in New Jersey Puts Focus on Illinois

The federal government’s crackdown on the State of New Jersey this week for misrepresenting the condition of its pension funds raises a question: Who else might have pension numbers that could draw regulatory fire? Cities and states are scrambling to make sure their pension disclosures are in order, and investors in distressed debt — who make money off financial trouble — are scrambling too, sensing opportunity.

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