Cuomo Vs. Loglisci: Who’s The Chooch?

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[Policing Wall Street]

Is New York State Attorney General Andrew Cuomo attempting to railroad David Loglisci, former Deputy Comptroller of the State of New York?

Someone is clearly lying on at least one aspect of the case involving alleged pay-to-play in connection with the management of New York State’s huge pension fund.

The whole scandal erupted when authorities alleged money managers had been allocated tens of millions of dollars in state employee pension funds to handle, through influence peddling and palm-greasing.

One of the money managers was the firm Quadrangle, one of whose partners was Steve Rattner.

One aspect of the case involved a little known film called “Chooch,” which apparently was distributed mostly through DVD. A Quadrangle unit allegedly paid $88,000 for distribution rights for the DVD.

Chooch’s producers were Tami Powers, and Steven Loglisci and his brother David, the deputy comptroller, New York AG’s office alleged. (A person familiar with the matter maintains only Steven, not David was a producer; the source says David invested only $9,000). 

In the indictment New York AG Cuomo alleged that David had never disclosed to the ethic’s committee before he took the deputy comptroller job that he had an interest in Chooch, which would be a conflict of interest since he was involved in approving Quadrangle as one of the State’s money managers.

The indictment states, referring to David: “Defendant Loglisci also solicited from defendant Morris and others doing business with the CRF (Common Retirement Fund), investments and other contributions to a film, Chooch, produced by Loglisci’s brother in which Loglisci had a financial interest. These benefits were not disclosed to the CRF executive staff, ethics officers, or members.”

(The reference is to Henry “Hank” Morris, who acted as an intermediary and concealed the fact that he was actually getting payment from the companies he introduced to the CRF; Morris has also been indicted. )

Moreover, the indictment alleged that Morris also contributed to Chooch. Adds the indictment, “Defendant Loglisci also caused certain fund managers doing business with the CRF to make contributions to the film, and caused one fund manager doing business with the CRF to arrange a DVD distribution deal for the film.”

While Cuomo alleges that David Loglisci never disclosed his interest in Chooch, The Black Star News has obtained a copy of Loglisci’s financial disclosure statement, from 2003, which was when he was required to make a disclosure, and it clearly shows that he mentioned his interest in the film project.

The copy of the disclosure obtained by BSN states, in a hand written entry that Loglisci, “Sold all interests in Rose Park Equities- a family partnership, incl film rts to 'Chooch.'”  In the disclosure, Loglisci, lists the value of this partnership as between $60,000 -  $100,000.

A spokesperson with the New York State Ethics Commission confirmed that Loglisci did indeed file a disclosure; he could not confirm that he disclosed his sale of his interest in Chooch by BSN’s deadline today.

In terms of the government’s allegation that David Loglisci also solicited contributions to Chooch from other money managers doing business with the pension fund, the person familiar with the matter says these individuals were actually friends of Steven Loglisci; and that David had no influence over their decision.
So who’s telling the truth? Well, either Loglisci never disclosed his interest in Chooch, or he did.

Cuomo says he didn’t; the document obtained by The Black Star indicates he did.  A call seeking comment from AG Cuomo wasn’t returned by deadline.

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