Grasso Pay Trial Scheduled To Start Days Before Gubernatorial Election
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
The trial on former New York Stock Exchange Chairman Richard Grasso’s pay is set to start at the end of October, days before the New York gubernatorial election where Attorney General Eliot Spitzer is the leading contender.
New York State Supreme Court Judge Charles Ramos scheduled an October 30 start date, a spokeswoman for the attorney general’s office, Juanita Scarlett, said. Mr. Spitzer filed the lawsuit in May 2004 seeking the return of a portion of Mr. Grasso’s $190 million compensation over eight years, alleging it violated a state law on not-for-profit organizations because it was “unreasonable.”
Mr. Spitzer, a Democrat who gained prominence with investigations into conflicts of interest on Wall Street, leads polls among likely candidates in the November 7 election.
