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Dallas
Police & Fire Pension System
Federal Indictments: Dallas Pension System 2024
Crimes or acts of public corruption committed by
Dallas elected officials, trustees and employees can be reported anonymously
using the information available at
this site.
Many illegal acts are
discovered
by tips from honest
people who
are not certain of all the facts. Even if you have no physical evidence, you
can still provide a description of your concerns and why you believe a crime
has occurred.
FBI Investigation, April 2016 - Federal investigators
executed warrants at the offices of former System investment advisor
CDK Realty Advisors.
The real estate investment firm once managed more than $700 million real estate portfolio for the
fund,
but the two have had a messy split since the fund's administrator,
Richard
Tettamant, was ousted in June 2014. Source:
Dallas Morning News
Columbus A. Alexander, CPA, CFE, January 2017 -
The most disturbing thing now is that the basic culture of
self-serving secrecy at the pension system has not changed. Some of
the evidence suggests that the System's
use of outside
attorneys to investigate wrongdoing
is a sham designed
to do just the opposite - to make sure instead no discoverable documents or
evidence will be produced.
Source: Dallas Observer
CDK Realty Advisors, February 2017
- System executives authorized monthly payments to the Argyle Volunteer
Fire Department where CDK Realty investment manager
Jon Donahue
is a volunteer firefighter while filing a
lawsuit
against its former investment advisor, and spending hundreds-of-thousands of pensioner funds
all with
no
legal discovery by any party to the litigation and with
no
assets available for pension fund recovery.
General Counsel Lawson, August 2017 - System trustees
authorized a lawsuit against former System General Counsel
Gary Lawson. The
litigation states Lawson
had power that was "very
broad
and not
limited to discrete
tasks, matters or issues," further noting
that had
he "simply spoken up, millions of dollars lost
in investments
could have been saved."
System Lawsuit
Samuel Friar
Resigns, May 2019 - System trustee and former Board Chairman
Samuel Friar resigned. Deputy Vice Chair
Samuel Friar served on the Board since 2011, and was
one of three System trustees to vote against the forced resignation of long-time
System Administrator Richard
Tettamant during June 2014. Included with Chairman
Friar's vote against Tettamant's forced resignation were former long-time
Board Chairman
Gerald Brown,
and trustee John Mays.
FBI Investigation, October 2019 - Since February 2019,
System officials have continued to provide the Federal Bureau of
Investigation with documents that "are stunning" and are "proverbial smoking
guns." According to
court documents filed by attorneys for former investment advisor Townsend Group,
System officials met with Special Agents from the Bureau, prepared flash drives and gave
FBI agents access to document
servers.
DPFP Crisis Returns, November 2023 - A Dallas City Council
committee learned this month that the Dallas Police & Fire Pension fund is facing a $3 billion shortfall.
Seems the 2017 Texas Legislature deal to fix the pension fund has failed,
and taxpayers only years later are
once again on the hook to fix it.
NBC5DFW
More Words, More Truth
Columbus A.
Alexander, III, CPA
Certified Fraud Examiner
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