Reporter at News 5 Cleveland
Attorney General Dave Yost has filed a slew of subpoenas against individuals he has accused of bribery as a major scandal brews inside the retired teachers' pension fund. The investment firm at the center of the controversy is now speaking out.A recapThe State Teachers Retirement System is in chaos. In summary, there has been constant fighting, two board resignations and allegations of both a public corruption scheme and mishandling of funds.
according to the main 14-page memo.The documents claim that they — despite having no clients and no track record — tried to convince STRS members to partner with them.They couldn’t impress the board members, mainly because of their lack of experience and also because QED was not registered as a broker-dealer or investment adviser. The men also didn't own the technology to 'facilitate the strategy,' the documents say.
he said. 'There's probably very insignificant information that they will find, maybe some of it they'll find funny because I might joke with them or laugh, you know, get a funny email and send it back to them,' Rayfield continued.
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