Businessman pleads guilty in NY pension probe

A California businessman has pleaded guilty to securities fraud in connection with an investigation of alleged corruption at New York’s public pension fund.

The attorney general’s office said Tuesday Julio Ramirez entered into a corrupt agreement with a top political aide to former New York Comptroller Alan Hevesi to ensure that his company’s clients got a slice of pension fund investments.

Ramirez was a placement agent for the Los Angeles-based Wetherly Capital Group.

Attorney General Andrew Cuomo says Ramirez split profits from the deals with Hevesi aide Hank Morris.

Morris pleaded innocent in March.

Copyright 2009 The Associated Press.