NEW: Top SEC Whistleblower Siedle to Conduct Forensic Pension Investigation in Cranston
Kate Nagle, GoLocal News Editor
NEW: Top SEC Whistleblower Siedle to Conduct Forensic Pension Investigation in Cranston
The RFP for a "Fidicuary Review of Cranston’s Locally Administered Police and Fire Plans" was publicized on March 1.
Siedle spoke to being notified on Thursday that his bid -- as part of a request for proposals -- was chosen.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST"My submission for services was around $30,000," said Siedle, who said that an investigation of this nature "should take around 90 days, schedule permitting."
"I think it will prove to be to best money they ever spend. And by the way, from what I'm hearing, I think Warwick should be next," Siedle told GoLocal.
Siedle recently received an honorary degree from Simon's Rock Early College -- where he attended but did not finish. Siedle wrote of the honor in Forbes.
Latest for Siedle
In July 2018, the Commodity Futures Trading Commission (CFTC) announced an award of approximately $30 million to "a whistleblower who voluntarily provided key original information that led to a successful enforcement action" -- and GoLocal first reported Siedle was the recipient of the award.
Siedle had previously in 2013 released his report of the Rhode Island pension system, "License to Steal," unveiling a 100 plus page report that called or a federal investigation regarding a number of issues relating the "withholding of material information and misrepresentations regarding state pension costs, as opposed to a lack of knowledge about the exponential growth and magnitude of the fees (tied to Wall Street Hedge Funds)."
A constant critic of Governor Gina Raimondo's pension reform -- and track record as venture capitalist -- Siedle endorsed Cranston Mayor Allan Fung in the 2018 Rhode Island gubernatorial race.