This Monday a warrant was served by federal investigators on an investment firm that used to advise the beleaguered Dallas Police and Fire Pension System. Kelly Gottschalk, executive director of the pension system, confirmed that the FBI had raided the offices of CDK Realty Advisors which is the firm that once managed the pension system. It is not clear what the scope of the FBI’s investigation is. “CDK Realty Advisors once managed more than $700 million for the pension fund, but the two have had a messy split since the pension fund’s former administrator, Richard Tettamant, was ousted in June 2014.” Recently the pension system filed a complaint against CDK alleging that they charged inflated fees and provided “reckless and improper” advice. CDK currently denies the allegations being made by the pension system.
See Tristan Hallman, FBI raids offices of investment firm tied to Dallas Police and Fire Pension System, The Dallas Morning News, April 6, 2016.
