Potential RI AG candidate Siedle wins an additional $30M in Whistleblowing Case making the total now $78Million

Forbes columnist Ted Siedle has now scored two large whistleblower payments from two different federal financial regulatory agencies. The first was $48 million and this time, Siedle has received $30 million. “Of the CFTC’s [Commodity Futures Trading Commission] portion, $30 million will go to one applicant, according to a letter this week sent to a total of five applicants, the person said, asking not to be identified because the matter isn’t public. The other four applied too late or hadn’t helped investigators, according to the person who reviewed the agency’s letter,” reported Bloomberg on Friday. A Providence publication confirmed that Siedle is the recipient. Siedle lives in Florida but has confirmed that he is looking to buy a home in Rhode Island as he is considering a run for Attorney General.

In 2017, former Governor Chafee criticized Raimondo for not only her investment strategies as Treasurer, but also her claims about her role in pension reform. “And my final issue [on pension reform] is performance,” said Chafee. “Retirees were promised their COLA would come back when the fund reached a certain solvency — and now the hedge funds [investments] pushed that out further. The investments were terrible with the rapaciously high fees. The retirees have to be livid,” Chafee said.

In one Forbes column, Siedle wrote about Raimondo, “The wreckage related to Raimondo’s failed stint as a small-time venture capitalist is finally out in the open for all Rhode Islanders to see. The Point Judith II fund she pitched to the Employees Retirement System of Rhode Island (in which the pension risked $5 million) has returned a pathetic -1.1 percent over the past almost ten years”îafter paying her rich fees of 2.5 percent. If making money off your investors defines success, then Raimondo’s a superstar.”