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Former Connecticut Treasurer Discusses State Pension Deals.
Knight Ridder/Tribune Business News, September, 2003
By Jon Lender, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Sep. 25--Convicted ex-state Treasurer Paul Silvester has testified that the worst deal he made during his corrupt tenure was his investment of millions of state pension dollars in Pioneer Ventures Associates of Windsor -- a partnership whose sales literature Gov. John G. Rowland had personally sent to the treasurer's office.
And now the transaction is starting to smell even worse: Pioneer has been tied to one of the biggest Wall Street securities scandals in years, and new figures indicate that the state's original investment of $50 million in Pioneer has lost at least $19 million in value.
This week Silvester's successor, state Treasurer Denise L. Nappier,...
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