For big Pennsylvania pension fund, a great investment — except for the founder's arrest

Investment experts at Pennsylvania's biggest pension plan told the fund's board last week that it had only a month to decide whether to put money into a promising financial fund run by Florida-based DigitalBridge Inc. In a report to the board, the PSERS fund's investment chief, James H. Grossman Jr., also described DigitalBridge's fund as especially socially responsible. Grossman suggested a possible investment of $100 million. The trouble is, two weeks before Grossman's Aug. 6 report, DigitalBridge's founder was arrested on federal charges of acting as a secret lobbyist for a Middle Eastern c...