AZ Police Assoc. wants criminal investigation into pension board - WSFA.com Montgomery Alabama news.

AZ Police Assoc. wants criminal investigation into pension board

PHOENIX (CBS5) -

The director of the Arizona Police Association wants answers.

Levi Bolton wants a criminal investigation to see if the retirement funds of police and firefighters have been grossly mishandled.

"Would you give the captain who ran your ship into the rocks a performance bonus?" asked Bolton. "Probably not."

Bolton has just sent a letter to the state attorney general's office requesting a criminal investigation into the conduct of board members with Arizona's Public Safety Personnel Retirement system.

The board of trustees has been giving out lucrative bonuses to its investment staff, while the trust was posting huge financial losses from 2008 to 2012.

Concerns have also been raised about administrators recording higher values on real estate investments, rather than reporting lower values as determined by an independent appraiser.

"One thing that is a clue to nefarious behavior, or at least conduct that certainly is suspicious, is an attempt to cover it up," said Bolton. "When I see that, that is a problem."

CBS 5 went to the board of trustees annual meeting Wednesday to get some answers.

Board Vice President Greg Ferguson said that they are currently investigating the allegations of mismanagement, but he does not believe they have done anything wrong.

"We went out and hired an independent law firm to come in and look at our process," said Ferguson. "We think there is nothing wrong with the process. We've had auditors look at it and we have nothing to hide. We think we are doing everything correctly."

The board voted this week to end the practice of giving bonuses to its investment staff, which should save taxpayers more than $200,000 this fiscal year.

No word yet on whether the attorney general's office will launch an official investigation.

Copyright 2013 CBS 5 (KPHO Broadcasting Corporation). All rights reserved

  • NewsMore>>

  • Investigators say DNA database can be goldmine for old cases

    Investigators say DNA database can be goldmine for old cases

    Saturday, June 16 2018 12:19 PM EDT2018-06-16 16:19:01 GMT
    Thursday, June 21 2018 7:55 PM EDT2018-06-21 23:55:22 GMT

    Some private investigators and genealogy experts want to use the same DNA-tracking system that identified the suspected Golden State Killer to solve decades-old murder and missing-person cases.

    More >>

    Some private investigators and genealogy experts want to use the same DNA-tracking system that identified the suspected Golden State Killer to solve decades-old murder and missing-person cases.

    More >>
  • Director: FBI won't repeat mistakes noted in watchdog report

    Director: FBI won't repeat mistakes noted in watchdog report

    Monday, June 18 2018 2:40 PM EDT2018-06-18 18:40:23 GMT
    Thursday, June 21 2018 7:54 PM EDT2018-06-21 23:54:29 GMT
    (AP Photo/J. Scott Applewhite). Justice Department Inspector General Michael Horowitz, left, and FBI Director Christopher Wray wait to testify as the Senate Judiciary Committee examines the internal report of the FBI's Clinton email probe and the role ...(AP Photo/J. Scott Applewhite). Justice Department Inspector General Michael Horowitz, left, and FBI Director Christopher Wray wait to testify as the Senate Judiciary Committee examines the internal report of the FBI's Clinton email probe and the role ...
    The Republican chairman of the Senate Judiciary Committee says the Justice Department has a "serious credibility problem.".More >>
    The Republican chairman of the Senate Judiciary Committee says the Justice Department has a "serious credibility problem.".More >>
  • Compulsive video-game playing could be mental health problem

    Compulsive video-game playing could be mental health problem

    Monday, June 18 2018 5:20 AM EDT2018-06-18 09:20:00 GMT
    Thursday, June 21 2018 7:53 PM EDT2018-06-21 23:53:50 GMT
    In its latest revision to an international disease classification manual, the U.N. health agency said Monday that classifying "Gaming Disorder" as a separate condition will 'serve a public health purpose for countries.' (Source: Pixabay)In its latest revision to an international disease classification manual, the U.N. health agency said Monday that classifying "Gaming Disorder" as a separate condition will 'serve a public health purpose for countries.' (Source: Pixabay)

    The World Health Organization says that compulsively playing video games now qualifies as a new mental health condition, in a move that some critics warn may risk stigmatizing its young players.

    More >>

    The World Health Organization says that compulsively playing video games now qualifies as a new mental health condition, in a move that some critics warn may risk stigmatizing its young players.

    More >>
Powered by Frankly