3 sue to overturn Ore. ethics board ruling



SALEM, Ore. (AP) — A suit in Marion County calls for Oregon’s public ethics board to take back letters of reprimand issued in July against three state Treasury investment officers.

The Salem Statesman Journal reports (http://stjr.nl/vjys9m ) the three argue they were following agency policies for reimbursement of travel expenses.

Treasurer Ted Wheeler is changing those policies in the wake of reports by The Oregonian newspaper about the travel expenses of money managers who invest the state’s pension fund assets.

The three are Ron Schmitz, who left his job as chief investment officer and director of the Investment Division for a position in Virginia; Brad Child, a senior real estate investment officer; and Andy Hayes, a private equity investment officer.


Information from: Statesman Journal, http://www.statesmanjournal.com