Report: Markstone Reaches Settlement with Cuomo
Tough day to be Markstone Capital Partners. First comes word of alleged fraud at Israeli investment house Psagot, of which Markstone holds a 24% stake (see below). Now, Israeli newspaper H'Aaretz reports that the private equity firm is near a settlement with New York AG Andrew Cuomo, over its role in the state's pay-for-play scandal. I've put in a call to Cuomo's office for confirmation, but have not yet heard back. The report says that Markstone has agreed to pay a fine, although no specific numbers are mentioned. Also not mentioned is anything about Markstone signing Cuomo's "code of conduct," but I'd be stunned if such a thing wasn't included.
2 February 2010•2 mins read
