NY AG Confirms Guilty Plea Of Placement Agent

May 12th, 2009 - Wall Street Journal

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(Adds SEC civil charges against Ramirez.)

NEW YORK (Dow Jones)--New York Attorney General Andrew Cuomo confirmed Tuesday that an associate of Henry "Hank" Morris, a one-time top political adviser to the state's former comptroller, has pleaded guilty to securities fraud in a "pay to play" probe involving the state's largest pension fund.

In a statement, Cuomo said Julio Ramirez Jr., an unlicensed placement agent formerly associated with Wetherly Capital Group in Los Angeles, has pleaded guilty to a securities fraud violation under New York's Martin Act, or general business law. Wetherly has not been accused of wrongdoing.

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