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Sunday, May 23, 2004

Report: Trustees of police, fire pension fund took gifts



The Associated Press

DAYTON - Four investment companies spent more than $200,000 over five years on meals, entertainment and travel for trustees of the Ohio Police & Fire Pension Fund, the fund's staff, family members and friends, according to an Ohio Ethics Commission report.

Investigators have found possible felony and misdemeanor violations including bribery, having an unlawful interest in a public contract and theft in office, said a nine-page summary of the report obtained by the Dayton Daily News.

The commission still is looking into whether the gifts and trips influenced trustees to continue doing business with underperforming investment advisers, said the report, which covers 1998 through 2003.

Investigators gave the report last week to Franklin County Prosecutor Ron O'Brien.

"You can conclude that there were substantial payments made by vendors as gratuities for events at which board members attended," O'Brien said.

Gov. Bob Taft said the violations need to be prosecuted.

"To me, the abuses are shocking and really amount to an outrageous dereliction of public duty and are cause for real alarm and a renewed sense of urgency in enacting pension reform legislation by the end of next week," he said.




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