Denise L. Nappier, Connecticut state treasurer, asked federal agencies to investigate if partners of Pioneer Ventures Associates are involved in organized crime. Ms. Nappier, in a letter obtained by P&I Daily, wrote the SEC and the U.S. attorney's office in Connecticut, citing published reports that alleged a connection between John Ferraro, a principal of Pioneer, and Abraham Salaman, "a twice-convicted organized crime figure." Ms. Nappier also indicated she was concerned that Mr. Salaman brought at least one investment to Pioneer, in which the $18.6 billion Connecticut Retirement Plans & Trust Funds, Hartford, has $50 million invested.
Robert Lambert, a partner in Pioneer, said: "We believe all the comments in the letter are inaccurate and don't pertain to us. We are in the process of preparing a response to the treasurer."
Wayne Carlin, regional director of the SEC, said it is the agency's policy not to comment on investigations. Kevin O'Connor, U.S. attorney for Connecticut, did not return calls by press time seeking comment.
