NEW YORK, Nov. 19 (UPI) -- The New York firm founded by former White House auto czar Steve Rattner said it would defend itself against Rattner's claims that it owes him money.
Rattner settled Securities and Exchange Commission charges against him this week for $6.2 million and faces two lawsuits filed by New York state asking $26 million in damages for Rattner's part in a "pay to play" kickback scheme involving New York's largest pension fund.
Rattner filed papers Thursday that reveal he is taking his former firm Quadrangle to arbitration, The New York Times reported Friday.
The former White House adviser who led the government's efforts to rescue the automobile industry in 2009 said Quadrangle and its partners seized the opportunity to steal from him while he was working for the government.
Quadrangle has already settled its case with New York, paying $12 million and calling Rattner's actions "inappropriate, wrong and unethical."
But Rattner's filing says: "Faced with the investigation, the Quadrangle parties had a choice: They could have either disclosed completely their involvement with the underlying facts or they could offer the New York attorney general a scalp. They chose the latter."
