According to recent reporting by the Reuters news service, New York state’s criminal probe of kickbacks paid by companies seeking to manage the state’s $122 billion state pension fund has exposed “a national network of actors,” according to New York Attorney General Andrew Cuomo. The kickback schemes are  still ongoing, according to the A.G.

“This is all across the nation, and it’s continuing today,” the Democratic attorney general said on a conference call with reporters.

The two-year-old investigation has put a spotlight on the use of placement agents hired by investment firms to get access to the New York State Common Retirement Fund.

The investigation is centered on allegations of  “pay to play,” which involves giving gifts or campaign donations to win public contracts.

So far, the probe has looked into the web of relationships and business contracts involving money managers, politicians and pension officials that exists in a complex and nationwide network.

A.G. Cuomo says the inquiry is just getting started and that people should “Stay tuned.”

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