A loophole in the law allows the president of a local public board to put tens of thousands of dollars into his pocket every year. He's essentially profiting from his volunteer public position indirectly.
We hoped to talk with Fire Pension Board president Bud Carrouche about potential ethics violations linked to the board, including the hiring of his son at a golf club owned by the board. Carrouche's response: "Oh no."
The New Orleans Fire Pension Board sent a letter to all of its membership, blasting a series of stories by FOX 8 News. Our Playing With Fire series questioned spending, salaries, investments and the employment of the board's CEO.
For every tax dollar you pay to City Hall, 10 cents go directly to the New Orleans Firefighters Pension Fund to help fill a huge cash shortfall. A recent audit shows its funding shortfall at $270 million -- that comes to about $750 per New Orleanian.
What would you do with 50 dollars? Grab a casual bite to eat, maybe fill up your car with gas. For every New Orleanian, $50 of their money will likely have to go into the New Orleans Firefighters Pension and Relief Fund -- for the failure of one investment.
Richard Hampton's position with the New Orleans Firefighters Pension Board appears to be a Louisiana anomaly. We have questions about his employment, and whether he can serve as a board member and a paid employee.
New Orleans Inspector General Ed Quatrevaux says he plans to do an audit on the New Orleans Firefighters Pension and Relief Fund. It follows our findings, laid out in three stories that questioned salaries, spending and whether the board broke the law.
You may not know it, but decisions by one public board could cost New Orleans taxpayers millions of dollars every year. We examine the case of Richard Hampton, whose staggering pay raise at the New Orleans Firefighters Pension and Relief Fund has some observers shaking their heads.
Why does a small pension fund, with only three employees and 10 board members, need 11 credit cards? The New Orleans Firefighters Pension and Relief Fund gives a credit card to all but one board member.
Bud Carrouche wouldn't answer our questions about the tens of thousands of dollars he put into his pocket every year. Now the former president of New Orleans Fire Fighter's Pension & Relief Fund admits he broke state law, following a series of FOX 8 investigations called Playing With Fire.