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Resource ID: #25611
Subject: Taxes
Source: WVUE-TV (New Orleans)
Affiliation: 
Date: 09/26/12; 09/27/12; 10/1/12; 10/3/12; 10/4/12; 10/14/12; 10/31/12; 11/14,12; 12/27/12

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Description

“Playing with Fire” focuses on a public board well out of the public eye, but one that could cost New Orleans taxpayers millions of dollars every year. After a month of digging through thousands of pages of records at the New Orleans Firefighters Pension Fund, WVUE-TV and Lee Zurik revealed questionable salaries, spending, and management. Among the notable discoveries: a $70,000 raise and $90,000 lump sum payout for the board Secretary-Treasurer/CEO; tens of thousands of dollars in questionable credit card charges by the board; and tens of millions of dollars in questionable investments. This last element is perhaps the most egregious for the citizens of New Orleans who are left to foot the bill for any pension fund shortfalls. This multi part series launched an investigation by the city's inspector general, forced the board to change polices and led to charges filed by the state ethics board against two of the principals in our series.

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