Pensions

Statewide News
8:33 am
Wed June 15, 2011

Ohio Probe Sought in Pensions' Currency Dispute

Ohio Treasurer Josh Mandel is requesting an investigation into whether banks overcharged four of Ohio's five pension funds and the state's injured worker insurance fund for foreign currency services.

In a letter Tuesday to Ohio Attorney General Mike DeWine, Mandel says banks may have manipulated exchange rates on foreign investments over the past dozen years, costing Ohio pensioners and businesses tens of millions of dollars.

Pages