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DiNapoli: $10 Million Ponzi Scheme Unraveled Following Nassau County District Attorney Investigation

State Comptroller Thomas P. DiNapoli and Nassau County District Attorney Madeline Singas announced the arrest of a financial advisor from Pennsylvania and the re-arrest of his alleged collaborator, a financial advisor from Syosset, for allegedly scamming at least 40 people – many seniors – out of more than $10 million in a Ponzi scheme.

NY State Comptroller DiNapoli Statement on Pension Fund's Ranking as Top U.S. Investor Battling Climate Risk

New York State Comptroller Thomas P. DiNapoli released the following statement today after the Asset Owners Disclosure Project named the New York State Common Retirement Fund as the number one U.S. pension fund, and the third globally, for its work to address climate risk. It was the Fund’s second consecutive ranking as the leading U.S. pension fund on addressing climate issues.

DiNapoli Warns Federal Cuts to Health Care Could Hurt Millions of New Yorkers

The number of New Yorkers who rely on Medicaid and other publicly funded health plans has grown sharply over the past decade, but proposals by President Trump and some members of Congress could cut federal funding for those programs by billions of dollars and jeopardize health care coverage for many residents, according to a report released today by State Comptroller Thomas P. DiNapoli.

State Contract and Payment Actions in July

In July, the Office of the State Comptroller approved 1,451 contracts for state agencies and public authorities valued at $1.2 billion and approved nearly 1.9 million payments worth more than $8.7 billion. The office rejected 178 contracts and related transactions valued at $180 million and more than 4,000 payments valued at nearly $2.5 million. Information on these contracts and payments is available at www.openbooknewyork.com.

Four Individuals Charged in Widespread Scheme to Defraud Medicare and Other Health Insurance Providers Through Fraudulent Medical Corporations and False Billing Resulting in Tens of Millions of Dollars in Losses

State Comptroller Thomas P. DiNapoli, Geoffrey S. Berman, the United States Attorney for the Southern District of New York, William F. Sweeney, Jr., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation ("FBI") and Scott J. Lampert, Special Agent in Charge of the New York Office of the U.S.

DiNapoli: School Bus Safety Needs Improvement

State Comptroller Thomas P. DiNapoli released an audit today that examined seven upstate school districts and their compliance with school bus safety requirements. The audit found school districts are not confirming all school bus drivers are completing required training and drug testing, and that school bus safety drills and inspections are done.

DiNapoli: Employer Contribution Rates Stable for State Fiscal Year 2019-2020

Employer contribution rates for the state's pension system in State Fiscal Year 2019-20 will be in line with the previous year, with the Employees' Retirement System (ERS) getting a slight decrease and the Police and Fire Retirement System's (PFRS) rate unchanged, New York State Comptroller Thomas P. DiNapoli announced today. DiNapoli also reported the New York State Common Retirement Fund (Fund) grew stronger and ended the last fiscal year with a funded status of 98 percent, according to actuarial calculations.

DiNapoli Statement on His Placement Agent Ban Becoming Law

New York State Comptroller Thomas P. DiNapoli today issued the following statement after Gov. Cuomo signed DiNapoli's legislation to prohibit the use of placement agents or intermediaries by the New York State Common Retirement Fund (Fund). This bill (A.3137/S.4761) codifies into law reforms pushed by DiNapoli since 2011.