Broidy resigned as chairman of Markstone Capital Group, the little-known firm that got him into hot water, and agreed to forfeit $18 million to New York, the same amount that Markstone charged the New York State Common Pension Fund.
“Broidy paid nearly a million dollars in bribes to get a quarter billion dollar investment,” according to a statement from Cuomo. According to the attorney general, Broidy acknowledged that he “funneled $300,000 to “Chooch” (the generally unseen movie that has been previously cited in the scandal), entered a “sham consulting agreement,” and paid over $90,000 to the girlfriend of a high-ranking official in the New York comptroller’s office, among other things.
Broidy has a remarkably diverse resume on top of his work for Markstone. Some highlights:
He sits on the board of trustees for the Simon Wiesenthal Center, an international Jewish human rights organization. In March, when he was named to the organization’s board, the Wiesenthal Center noted that “he brings with him a wealth of experience as a major philanthropist and a person deeply involved in international affairs.”
He is a past member of the Homeland Security Advisory Council, as well as the Future of Terrorism Task Force and New Technology Task Force, a position he was tapped for in January 2006 by Michael Chertoff.
Broidy, the former finance committee chairman for the Republican National Committee, was appointed by President George W. Bush to the board of trustees of the John F. Kennedy Center for the Performing Arts in 2006. Broidy is also on the board of advisors of the University of Southern California’s Marshall School Center for Investment Studies.
But among his long list of public service roles, one position in particular may cause raised eyebrows. From 2002 through May of 2009, when he resigned due to a Securities and Exchange Commission investigation, Broidy was a trustee of the Los Angeles Fire and Police Pension fund. While it is fairly common for people to move fluidly back and forth between the investor world and the fund management world, Broidy is the only person we can think of to have a foot in both at once.