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updated: 9/20/2012 8:04 AM

Lawyer gets probation for role in attempted fraud

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Associated Press

A former attorney for the Illinois' Teacher Retirement System has been sentenced to two years of probation for his role in a scheme to defraud the pension fund.

Steve Loren pleaded guilty to corruption charges for creating a sham contract at the direction of pension fund board member Stuart Levine.

Levine admitted to trying to get payoffs out of money management firms seeking to invest assets of the $40 billion state Teachers Retirement System and was sentenced to 5 1/2 years in prison.

While Loren faced up to 18 months in prison, Assistant U.S. Atty. Carrie Hamilton noted his cooperation with prosecutors.

U.S. District Judge Amy St. Eve credited Loren for testifying against convicted Springfield power broker William Cellini and Antoin Rezko, a fundraiser for imprisoned former Gov. Rod Blagojevich.

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