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L.A. venture capitalist Elliott Broidy spared jail time

Elliott Broidy pleads guilty in New York to a misdemeanor charge in a corruption scandal involving the state's former comptroller, Alan Hevesi.

November 27, 2012|By Marc Lifsher, Los Angeles Times

A New York State judge gave a light sentence to a Los Angeles venture capitalist and philanthropist for his participation in a pay-to-play corruption scandal involving former New York State Comptroller Alan Hevesi.

Elliott Broidy, 55, on Monday pleaded guilty to a misdemeanor charge of attempting to receive a reward for official misconduct, the New York attorney general's office said. The judge let him change his plea to a misdemeanor from a felony and spared him jail time.

Broidy provided important evidence in a case against former New York Comptroller Alan Hevesi, who served as the sole trustee to a $125-billion public pension fund, Justice Lewis Bart Stone said. Broidy could not be reached for comment.

marc.lifsher@latimes.com

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