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SEC After Detroit Mayor Kwame Kilpatrick for Failure to Defend Against Charges He Accepted Gifts

Former Mayor Kwame Kilpatrick looks on while in court before turning himself in at the Frank Murphy Hall of Justice in Detroit, Mich, on Tuesday, March 9, 2010.

Federal regulators are on ex-Mayor Kwame Kilpatrick’s back again, this time for failing to defend himself against allegations that he accepted lavish gifts in exchange for approving million dollar pension deals.

In records filed today, the U.S. Securities and Exchange Commissionasked for a default to be issued against Kilpatrick, who was charged in a civil suit in May with accepting $125,000 worth of gifts — including private jet travel, golf outings, massages and concert tickets — from an investment adviser to the city’s pension funds in exchange for preferential treatment.

Source: Detroit Free Press

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