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Tagged: detroit pension board

11:01 am
Tue November 13, 2012

Woman accused of stealing from the Detroit pension fund surrenders

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Lead in text: 
Faberge eggs, Rodin sculptures, and a mountainside resort in Costa Rica. And now bribe money from a heroin dealer. The plot behind the theft of Detroit pension fund money thickens. And now that Kastenes has surrendered, more answers are likely to come.
Detroit - A fugitive businesswoman accused of stealing $5 million from a Detroit pension fund - and blowing the cash on exotic art and jewelry - turned herself in Tuesday, ending an eight-month manhunt stretching from Detroit to the Caribbean. Teresa Kastanes was escorted off the plane by agents from the Office of Homeland Security at 5:43 a.m.
Read More: http://www.detroitnews.com
Politics
5:29 pm
Wed February 16, 2011

Legislation would require spending disclosure by Detroit pension boards

Credit sushi♥ina / flickr
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Detroit’s two pension boards would be required to post all of their spending online, under a bill before the state House.

The legislation is a response to stories published in 2009 about board members’ travel expenses. The boards’ trustees, their attorneys and staff racked up bills totaling hundreds of thousands of dollars for trips to places like Singapore, Hong Kong and Dubai.

State Representative Tom McMillin in the bill’s sponsor:

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