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eberly

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Sunday, December 31, 2017

Years of risky hedge fund investments helped plunge Kentucky's public pension system billions of dollars into the red, making it one of the worst-funded state pension systems in the country. Now, eight current and former state employees are suing a trio of hedge fund operators and current and former members of Kentucky's pension board, alleging that they breached their financial duties to the state and its taxpayers by sinking millions of dollars into "exotic" hedge fund bets. ... Together, the defendants "chose to cover up the true extent" of the pension plans' financial shortfalls and to "take longshot imprudent risks" in an effort to make up for the funding problems, the suit contends. read more


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en.wikipedia.org

---- off, speakstupid.

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