Tuesday, September 18, 2012

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Attorney publicly reprimanded by SCOKY for involvement in money laundering scheme From the News Journal. To read the complete Supreme Court decision, click here A Knox County official received a public reprimand by Kentucky's highest court late last week. In a decision returned on Thursday, the Kentucky Supreme Court publicly reprimanded Knox County Attorney Charley Greene Dixon Jr. The Court overturned an Inquiry Commission's July 2008 decision, which found Dixon not guilty. The charges involved a money laundering scheme which sent former Knox County Judge/Executive Raymond Smith to prison. *** In their ruling, the Court stated: "Dixon's actions had the effect of facilitating Raymond Smith's money laundering scheme. Two of the checks were drawn on Knox County. So Dixon's actions had the effect of defrauding the county that Dixon represented as county attorney," the court stated in their decision." In July 2008, Dixon was investigated by the Inquiry Commission and found not guilty of misconduct regarding his attorney escrow account. The commission alleged Dixon received checks from businesses owned by brothers Raymond and Matt Smith, put the checks in his escrow account, then distributed the cash value of the checks to both Smiths' wives at the instruction of Raymond Smith, according to the document However, the Kentucky Supreme Court decided to review the trial commissioner's decision. Four years later, the Court has disagreed with the not guilty decision by the Commission. The court found Dixon was guilty of violating SCR 3.130-1.15(b) by receiving more than $85,000 in checks made payable to specific businesses, making no effort to notify those businesses that he had received those funds, then paying the funds to a third party, the decision stated. Smith laundered money through various accounts, including Dixon's escrow account, according to the document. * * * As part of the decision, Dixon was ordered to pay all costs associated with the disciplinary proceeding,...
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"Whistleblower Disputes Kentucky Retirement Officials on Placement Agent Claim" from WKU Public Radio I previously posted on CFA Chris Tobe's analysis of the use of RFP's to save the Kentucky Retirement System up to $85 million a year. See, CFA Chris Tobe Comments on Kentucky's Retirement System and the Need for RFP's (requests for proposals). Well, he was in the news in another matter involving finances and Kentucky Retirement Systems, and I am sharing that story with you. When the taxpayers are worried about their jobs and families, then government employees and those in financial positions with the government are going to be under rigorous scrutiny by those who are ultimately paying the bills. Whistleblower Disputes Kentucky Retirement Officials on Placement Agent Claim" A whistleblower and former member of the Kentucky Retirement System’s board of trustees is disputing claims that the pension plan hasn’t used placement agents recently. Chris Tobe is an investment expert who served on the system’s board for four years. He’s also the main witness in a Securities and Exchange Commissions investigation into KRS and its previous uses of placement agents. Officials at the pension agency told lawmakers yesterday that they hadn’t used a placement agent in three years. But Tobe says the agency uses a group called ORG for real estate deals and that ORG is registered as an agent in California. “And I think that to me, that disqualifies them as an independent consultant for KRS and that KRS should be much more sensitive to these issues since they are still in the middle of an SEC placement agent investigation,” he says. Tobe says ORG is registered as a placement agent for the California Teachers Retirement System and that ORG can't be an "independent consultant" in Kentucky and a registered agent somewhere else. Tobe also says KRS and even the legislature is ignoring an important report regarding Kentucky’s...

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