Posted at: 11/15/2012 3:37 PM
By: Associated Press
Former New York state comptroller Alan Hevesi has been granted parole after serving 19 months in prison for his leading role in an influence-peddling scandal at the state's massive pension fund.
As comptroller, Hevesi was sole trustee of the fund now valued at nearly $150 billion.
The 72-year-old former assemblyman and New York City comptroller was entangled in an investigation of so-called "pay-to-play" practices at the fund.
He told the parole board last year that letting a venture capitalist pay $75,000 of expenses for five trips to Israel, primarily on fund business, which the state could have paid, represented an "unprecedented" level of stupidity for him.
He said all campaign contributions were spent on his re-election and he didn't personally receive any money.
His parole interview was Wednesday. He was notified of the board's decision Thursday.