New York: An Indian origin former official of one of the largest pension funds has been charged in a prostitutes and drugs’ bribery scheme involving billions of dollars in business.
A director and strategist at the New York State Common Retirement Fund (NYCRF), Navnoor Kang “allegedly steered billions of dollars of business to broker-dealers who bribed him with luxury vacations, high-priced watches, drugs, cash, and more,” Preet Bharara, the Indian origin New York federal prosecutor said Wednesday.
Court documents seen by IANS also listed the services of prostitutes and strippers, “night club bottle service” and a Panerai watch worth $17,420 among the bribes allegedly received by Kang.
He was arrested in Portland in Oregon state and was to be produced before a federal judge there, Bharara said.
Kang, 38, is a former tennis pro, who played in international tournaments in 2005 and 2006.
(Arul Louis can be contacted at [email protected])