County terminates contract with financial company

12:49 PM, Jul 20, 2011   |    comments
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CLEVELAND -- Cuyahoga County Executive Ed Fitzgerald is ending a business relationship with a financial services company whose owner admitted bribing former county employees.

The bribes are believed to have assisted the company, Financial Network of America based in Twinsburg, in landing business with the county as an administrator of deferred compensation retirement accounts for retired county workers.

The county had halted the ability of county workers from opening new accounts with FNA.  Employees are being directed to two other organizations.

The county will be seeking proposals from companies to take over the accounts FNA managed.

"Free tiki huts and fake plam trees will never again have a bearing on who gets county business," said County Executive Ed FitzGerald referring to illegal gifts given to Jimmy Dimora and Frank Russo.


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