NEW YORK (AP) — A broker-dealer charged with orchestrating bribe payments in a $2 billion pension fund scandal is avoiding jail time.
The Daily News (http://nydn.us/2xIcRx9 ) reports Saturday that Deborah Kelley was sentenced on Friday to six months of home confinement and three years of probation, and ordered to pay a $50,000 fine.
The 59-year-old Piedmont, California, resident had faced up to five years in federal prison after pleading guilty to fraud charges.
Prosecutors say she arranged trips to New Orleans and Park City, Utah, worth $19,000 for a former top official at the country’s third-largest pension fund in exchange for pension business.
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She called doing so, “The worst decision of my life.”
Prosecutors say Kelley and another broker-dealer arranged $100,000 in bribes in exchange for $2 billion in trades from the New York State Common Retirement Fund.
Information from: Daily News, http://www.nydailynews.com