DETROIT: FBI and SEC looking at Detroit Pension Fund managers...

In my ongoing reporting on the culture of corruption in Detroit, I now add the city public pension funds administered by “elected” officials. We are talking about the Detroit Fire and Police pension funds and, I suppose, we may as well add the general City of Detroit Retirement Fund.

The SEC is on the trail of corruption or “pay-to-play games after the Detroit Free Press revealed millions and millions in questionable investments and millions in expenses not quite justified. In other words, the elected trustees and their advisors have been having a grand old time with worker’s retirement money.

It kind of ticks me off that even with the millions paid to these managers of the funds, the managers and advisors, etc. have requested and were given permission to bill the funds for all their criminal attorney defense expenses…something does not smell right.

This should be a huge case as it develops and it will ensnare many prominent people and be one more example how a dying city is served by its elected or appointed officials.

The main man on the hot seat is one RONALD ZAJAC, a Detroit pension lawyer for decades who is being looked at by the FBI and a Federal Grand Jury and unfortunately, of Polish heritage.