Rhode Island General Treasurer Seth Magaziner's office is charging more than $10,000 for Forbes' columnist Edward Siedle's investigation into the Rhode Island pension system's real estate investments, which Siedle identified in December as the fund's "worst performing asset class by far."
Siedle, a former United State Securities and Exchange Commission (SEC) lawyer, who has conducted multiple investigations into Rhode Island's pension system, most notably looking into the fee structure to Wall Street under former Treasurer and now Governor Gina Raimondo, said he was "shocked" by the price tag.
"I find it unbelievable that the prince of transparency would put such a high price tag on a public records request," said Siedle on Wednesday. "We're just looking at a sliver of real estate — the most [Raimondo] ever wanted to charge $7,000 and that was a broader request." Continue…