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Audit Finds Likely Fraud In Detroit Pensions

September 30, 2013

A newly-released audit of Detroit’s city employee pension system finds evidence of criminal fraud in how some benefits were administered. It also finds those who managed the funds made very questionable investments. The pensions are one of the chief items at the core of the bankruptcy filed by Detroit and the audits were prepared for the city’s emergency manager. WDET’s Quinn Klinefelter talked with the spokesperson for the emergency manager – Bill Nowling…