Virginia Attorney General Ken Cuccinelli has intervened in a lawsuit brought by a whistleblower against a New York bank that oversees Virginia's pension fund. The lawsuit seeks $150 million in damages from the Bank of New York Mellon, the Washington Post reported. It charges that traders skimmed profits on transactions related to the Virginia Retirement System, as well as the pension funds of Fairfax and Arlington counties.
The suit, filed under the state's Fraud Against Taxpayers Act, was first filed in Fairfax County Circuit Court in 2009 and recently unsealed. A spokesman for the bank told the Post the lawsuit lacked merit.