Former Illinois Teachers’ Retirement System (TRS) trustee Stuart Levine pleaded guilty on Friday to charges of soliciting millions of dollars in kickbacks from investment firms wanting to do business with the TRS. In a press release, the TRS said Levine admitted using his position and influence as a TRS trustee to coerce investment firms to pay “finder’s fees” for consulting work that was never provided. Prosecutors said Levine and Tony Rezko, a top fundraiser for Governor Rod Blagojevich, were the true recipients of these fees, according to the release. The TRS said Levine and former TRS outside counsel Steven Loren concealed these fees from the TRS Board of Trustees and agency staff.
Illinois Pension Fund Trustee Pleads Guilty To Kickback Charges
Former Illinois Teachers' Retirement System (TRS) trustee Stuart Levine pleaded guilty on Friday to charges of soliciting millions of dollars in kickbacks from investment firms wanting to do business with the TRS. In a press release, the TRS said Levine