PORTLAND, Ore. (AP) — The Oregon Government Ethics Commission has decided to investigate the travel expenses of three investment officers for the Oregon Treasury.
The Oregonian says the commission’s decision stems from the newspaper’s reporting on the travel practices of the 13 Treasury employees charged with overseeing Wall Street money managers who invest the state’s $56 billion public employee pension fund.
The newspaper found that state investment officers often traveled in luxury.
The commission’s investigators recommended it conduct full investigations of seven investment officers. On Friday, the commission narrowed that to three: Chief Investment Officer Ron Schmitz, Senior Real Estate Investment Officer Brad Child and Private Equity Investment Officer Andy Hayes.
Lawyer Lisa Kaner is representing the state investment officers. She says her clients are disappointed in the commission’s decision to go forward.
