On September 29, 2017, the Honorable J. Paul Oetken of the Southern District of New York sentenced a New York broker-dealer’s former managing director of institutional fixed income sales Deborah Kelley to three years’ probation, including six months of home confinement. Kelley was also ordered to pay a $50,000 fine, $187,900 in forfeiture, and complete 1000 hours of community service; restitution will be determined within 90 days. Kelley pled guilty to conspiracy to commit securities fraud and honest services wire fraud on May 30, 2017 for her role in a “pay-to-play” bribery scheme involving the New York State Common Retirement Fund (“NYSCRF”), a pension fund for New York’s public employees. Between 2014 and 2016, Kelley and others agreed to secretly provide travel, entertainment, and expensive meals to Navnoor Kang, the Director of Fixed Income and Head of Portfolio Strategy at NYSCRF, in exchange for NYSCRF’s fixed income business and the promotion of Kelley and her brokerage firm’s interests. Kelley personally earned $200,000 in commissions from the ill-gotten business. Kelley and Kang also concealed the scheme by agreeing to testify falsely in an SEC investigation about the bribes. U.S. v. Kang et al., 1:2016-cr-00837 (S.D.N.Y.).