Court Records and Pension Officials Reveal Detroit Pension Deal Bankrolled Alleged Corruption

Detroit — A Wall Street deal backed by former Mayor Kwame Kilpatrick that helped push the city into bankruptcy bankrolled a three-year spree of alleged corruption, according to federal court records and pension officials.

The spending cheated Detroit retirees out of more than $84 million, led to criminal charges against six people and compounded the impact of a money-losing Wall Street deal, which could eventually cost the city more than $2.7 billion.

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