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Member of Los Angeles pension board resigns

April 29, 2009|David Zahniser
  • Pension

Weiss' fundraiser occurred just days after The Times reported that two other Villaraigosa pension board appointees, Sean Harrigan and Elliott Broidy, had received letters from the Securities and Exchange Commission seeking information on any income they have received from companies doing business with their agency. They serve on the Los Angeles Fire and Police Pensions board. The SEC also asked Broidy and Harrigan for information on their communications with Wetherly and two other companies linked to the New York pension probe.

New York Atty. Gen. Andrew Cuomo filed an indictment last month against onetime New York pension official and political consultant Henry Morris. Wetherly and the firm Morris worked for, Searle & Co., have shared fees for deals at three major pension funds in California. Wetherly representatives said the firm is cooperating with investigators.

The Weiss fundraiser was at the home of Richard Ziman, an unpaid advisor to Wetherly Capital. Ziman and his wife were listed as hosts, along with Wetherly's managing director, Dan Weinstein. A Wetherly representative said Weinstein did not attend the event.


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Weinstein and other Wetherly employees have contributed $54,700 to city candidates since 2002, including at least $1,500 to Weiss, according to the city Ethics Commission. Wetherly clients have contributed at least $12,750 to Weiss.

A day after attending the fundraiser, Candaele voted with colleagues to require that placement agents be identified when representing firms seeking contracts with the City Employees' Retirement System.

Wetherly spokesman Daniel DelRe said Tuesday that he didn't immediately have names of firms Wetherly represented before the city employees' pension board since 2006. Companies listed as clients on Wetherly's website have secured multimillion-dollar commitments from the board in recent years. It was not clear if Wetherly helped get those deals.

Candaele said that he wasn't sure whether he had met with Wetherly managers on city business but that his support for Weiss was "totally unrelated" to the firm.

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david.zahniser@latimes.com

Times staff writer Phil Willon contributed to this report.

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