Ex-NY pension fund official gets 21 months in prison
Jul. 13, 2018
NEW YORK (AP) — A former official at the pension fund for New York state public employees who was charged with accepting bribes that included prostitutes, strippers, cocaine and a $17,000 wristwatch has been sentenced to 21 months in prison.
Navnoor Kang was sentenced Thursday after pleading guilty to conspiracy to commit securities fraud and conspiracy to commit honest services wire fraud. He was also ordered to forfeit over $78,000 and to pay over $242,000 in restitution to the state fund.
An indictment accused the 39-year-old Kang of accepting bribes totaling $100,000 in exchange for steering millions of dollars in business to two brokerage firms. It says other bribes included travel, a ski trip, and tickets to Broadway shows.
Kang was dismissed from the New York State Common Retirement Fund after his 2016 arrest.