Rochester, N.Y. — A Democratic candidate for New York state comptroller is making sharp claims about how public pension funds have been managed.
Drew Warshaw visited Rochester Friday and criticized fellow Democrat and current Comptroller Thomas DiNapoli, alleging that he’s directed local public pension investments toward Manhattan real estate and luxury apartment developments outside of the state for nearly 20 years.
Warshaw claims near $3 billion in taxpayer-backed funds have been spent this way, even as Rochester and other cities face ongoing house crises.
“Only 5% of our money stays right here in New York state,” Warshaw said. “85% of that small number goes down to New York City. Tom DiNapoli has abandoned our upstate cities.”
DiNapoli’s campaign spokesperson sent a statement in response to Warshaw’s claims, saying he is “making up numbers to get press attention for his flailing campaign.”
Once again, millionaire Drew Warshaw is making up numbers to get press attention for his flailing campaign. Tom DiNapoli has received every endorsement from public employees in this race because he has invested smartly and grown New York State’s pension fund to record levels, including unprecedented investments in New York State. Drew raked in millions while evicting working families, and Tom DiNapoli has invested billions in affordable housing, workforce housing and housing repairs across the State. He will keep doing the real work that improves people’s lives and delivers results for New Yorkers.
Other Democratic comptroller candidates include Raj Goyle and Adem Bunkedekko. The only current Republican candidate at the moment is Joseph Hernandez.
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The Democratic primary election for comptroller will take place June 23, and the general election is Nov. 3.