Pension board member resigns over alleged ethics violation

A member of the board that oversees pension funds for Los Angeles City employees has resigned after his involvement with a political fundraiser for city attorney candidate Jack Weiss. KPCC’s Frank Stoltze reports.

A member of the board that oversees pension funds for Los Angeles City employees has resigned after his involvement with a political fundraiser for city attorney candidate Jack Weiss. KPCC’s Frank Stoltze reports.

Frank Stoltze: Pension board member Kelly Candaele said it was a mistake for him to act as one of six hosts of a Monday night fundraiser for Weiss. City ethics rules prohibit members of the pension board from engaging in campaign fundraising activities.

A Weiss spokesman said the campaign would return about $20,000 the event raised. Mayor Antonio Villaraigosa, who appointed Candaele to the board, called him an upstanding leader who “made an honest mistake.”

The Los Angeles Times has reported that two other people the mayor appointed to another pension board have received letters from the federal Securities and Exchange Commission.

That agency reportedly seeks information on any income they received from companies that did business with the L.A. Fire and Police Pension Board. The paper reports that the SEC has also asked the two about any communication they’ve had with companies linked to a criminal probe of a New York pension fund.

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