by Tara Granahan, WPRO

Financial watchdog Ted Siedle tells WPRO’s Tara Granahan the hedge fund losses with Rhode Island’s pension overhaul is the state’s “biggest scandal” and should be investigated. The Forbes.com writer and pension investigator also accused then-General Treasurer Gina Raimondo of lying to the SEC (Security Exchange Commision) and avoiding requests to turn over documentation.

Siedle also told Granahan that Raimondo, now holding the office of governor, was warned years ago by him and business magnate/investor Warren Buffett that the pension hedge fund gamble would fail, but she went ahead with those moves. Siedle says that cost R.I. half a billion dollars.

Hear Tara’s interview here: