While it may be to late for the latest Richard Mourdock scandal to play out in the primary, you can bet the latest allegations of Richard Mourdock being the target of an SEC probe will find its way in the general election if he happens to defeat Senator Lugar in the Indiana Republican Primary. And with pay-to-play being front and center with the SEC with the Alan G. Hevesi convictions, it's bound to get a more scrutiny than normal.
The latest coming from the Huffington Post: Richard Mourdock Target Of Retired Indiana Cop's Pay-To-Play Probe Request raises some serious questions for Richard Mourdock that he has refused to answer:
1) Why did Richard Mourdock issue a request for proposals to manage some $50 million in Indiana Police Pension Funds in February just before inviting New York financial service professionals to a lunch at the Lexington Avenue offices of NGN Capital in New York, hosted by Steve Forbes, Editor-in-Chief of Forbes magazine, and a member of the Board of Directors of FreedomWorks Foundation, Alfred Angelo and NGN Capital boss Ken Abramowitz?
2) According to the retired state police officer’s letter to the Securities and Exchange Commission (SEC), the minutes of the Board of the Indiana State Police Pension Fund do not reflect anything with regard to the authorization of the issuance of the RFP or the need for a “hedge fund of funds manager.” Why was this RFP necessary and who authorized it?
3) According to the retired state police officer’s letter to SEC, the Richard Mourdock campaign fundraising invitation sent to New York money managers identified him as “Richard Mourdock, Indiana State Treasurer,” rather than “Richard Mourdock, candidate for Senate” or “Mourdock for Senate.” Why did he do this?
4) Is Richard Mourdock familiar with the new Securities and Exchange Commission “pay-to-play” rules prohibiting him, as State Treasurer, from accepting contributions from such individuals who may seek business with the Indiana State Treasurer's office?
5) Why is the Treasurer’s office refusing to release the names of the firms that had applied to manage the pension money even after agreeing to do so?
This also raises serious questions since Mourdock is the Chairman of the Indiana Education Savings Authority which oversea the States 529 College Savings Plan (CollegeChoice Savings Plan).
http://www.in.gov/tos/iesa/index.htm
The 529 Plan is managed under contract of the Treasurer's Office by the money manager "College Savings Bank." (a division of Pacific Mutual / Pacific Life)
http://www.collegesavings.com/csb/article.aspx?id=22
http://www.collegesavings.com/csb/faq.csb#main6
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=1249421
The CEO of College Savings Bank has made a campaign contribution to Mourdock in seeming violation of Pay to Play laws.
Gilbert Johnson
CEO of College Savings Bank
309 Wash. Blvd
Sea Girt, NJ 08750-3011
Donated $500 on May 3, 2011
3rd Quarter Filings (page 38)
In addition in April 2011, the Treasurer's Office launched the "Indiana 529 CD Plan" in coordination with 4 local Indiana Banks.
http://collegesavings.com/csb/Indiana_Banks.asp
One of the banks that was part of the 529 CD launch was Home Bank in Martinsville, Indiana. The CEO/President is Dan Moore who has also given to Mourdock and hosted a fundraiser for Mourdock in seeming violation of Pay to Play laws.
Dan Moore,
CEO/President, Home Bank in Martinsville, IN
donated $1,000 on March 31, 2012
(p269 Q1 2012)
donated $500 July 13, 2011
(p 86 listed in Q4 FEC filing although the donation appears to be from Q3)
donation $230 Sept 1, 2011
total given $1,730
Dan Moore for Mourdock on 8/30/2011
https://secure.piryx.com/donate/JopItlng/Hoosiers-for-Richard-Mourdock/Martinsville
Another questionable donation to RM in the student finance industry is
Cary Katz
CEO of College Loan Corporation
Las Vegas, NV
Donated $2,500 on 15 August 2011
4th Quarter Filings (page 63)
College Loan Corporation does college lending in Indiana.
If it doesn't play out in the primary, it will certainly be an issue in the fall.
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