Kickback Conviction For Deputy Treasurer

A former deputy state treasurer was convicted Friday of accepting kickbacks from a California broker who earned millions off Oklahoma’s investments.

Patricia Whitehead was found guilty of conspiracy, bribery and money laundering. An associate, Norman businessman William Pretty, was convicted on similar charges.

Whitehead, who resigned in 1993 over the allegations, was appointed deputy treasurer in 1991 by thenTreasurer Claudette Henry. As chief trader, Whitehead was in charge of investing state assets.

Prosecutors contend she funneled $1.6 billion worth of investments to Planners Independent Management Inc. of San Diego so broker Patrick Kuhse could make nearly $4 million in commissions. Kuhse fled to Costa Rica last year.