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State Street and its former employee, respondent DeBaggis, settled charges in January 2016 based on an alleged agreement with Ohio’s then-deputy treasurer, of illicit cash payments and campaign contributions in exchange for lucrative sub-custodian pension fund contracts. State Street agreed to pay $12 million in the settlement. The case against defendant Crowe – who allegedly participated in the scheme as a bag man for campaign contributions – was still pending at the time of this writing/summary.