PHOENIX (AP) - The pension system for Arizona police and firefighters has received a federal grand jury subpoena to turn over documents.
The Arizona Republic reports (https://bit.ly/1g7lBz5) that its part of a criminal investigation into whether pension-trust managers inflated certain real-estate investment values to trigger staff bonuses.
The Public Safety Personnel Retirement System’s board voted at a special meeting Friday to hire a criminal defense attorney to handle matters related to the grand jury investigation.
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Since at least last December, the FBI has been interviewing former trust employees.
The 13,000-member Arizona Police Association requested a criminal probe into the conduct of PSPRS management last September.
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Information from: The Arizona Republic, https://www.azcentral.com
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