Special Report: Forensic Audit - 2008 Mayor Reed's Long time Investment Banker Jim Losty, RBC Capital Markets

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On March 28, 2012 Harrisburg Receiver David Unkovic held a press conference to read a letter asking US Attorney Peter Smith and PA Attorney General Linda Kelly to investigate "possible illegal activities" related to the Harrisburg Incinerator financings. During the presser, Unkovic referred to Jim Losty of RBC. This is video of Jim Losty testifying before Harrisburg City Council on June 30, 2008. Discussing the lease of Harrisburg Parking System to Jacob Frydman, Losty gives a general synopsis of the work he has done for Mayor Reed since 1983. He says he has done at least 50 transactions for the City and says the Reed Administration was always open to "creative financing and refinancing opportunities." It was because of that openness that Losty states he approached Reed in October/November 2006 to suggest the leasing of the City's assets in order to help confront Harrisburg's debt.--Tara Leo Auchey (Part 1 )

 
Tags: David Unkovic, Forensic Audit, Jim Losty, Mayor Reed