Maryland pension system decides to use more minority money managers.
Nathan A. Chapman Jr. buys Minority Equity Trust, a fund invested in by a collection of minority-owned firms. One MET client is state pension system.
Chapman, as new MET owner, signs contract with pension system to manage some of its money.
Chapman signs contract with Alan B. Bond making Bond a manager in MET. Gives Bond $10 million in pension money to invest.
Chapman gets additional $40 million in pension money; gives $5 million of that to Bond to invest.
Bond uses $560,000 in pension money to buy 70,000 shares in a Chapman company, Chapman Holdings Inc.
July 1998 -- February 1999
Chapman gives Bond $8 million in pension money to invest.
Dec. 16, 1999
Bond indicted in New York on charges of defrauding pension systems through kickbacks and skimming.
Dec. 17, 1999
Pension board Chairman Richard N. Dixon is said to have asked staff member to inquire about indictment. Board's Investment Committee meets; participants say Bond is not discussed.
Dec. 29, 1999
The money trail
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