Transparency Matters: An Open Letter From Fair Observer

Fair Observer, Navnoor Kang, Fair Observer, chief strategy officer at Fair Observer, Preet Bharara, New York State Common Retirement Fund, Atul Singh, Abul-Hasanat Siddique, Anna Pivovarchuk, nonprofit media organization

© MoMorad

December 21, 2016 11:55 EDT

Please read our statement regarding Navnoor Kang.

On December 21, 2016, we became aware of a scandal involving Navnoor Kang, a portfolio manager who volunteers as chief strategy officer at Fair Observer. Preet Bharara, the United States attorney for the Southern District of New York, has charged Kang with taking bribes to steer pension funds to brokers during his time as director of fixed income and head of portfolio strategy for the New York State Common Retirement Fund.

Since Kang has been charged with moral turpitude, we have to clear the air regarding his role. Kang had no say in the day to day running of Fair Observer. He did not make any notable contributions to the nonprofit organization, having only joined us a few months ago.

We are shocked to learn about Kang’s reported actions and are severing ties with him with immediate effect. Fair Observer has built up a reputation for fairness, rigor and probity that we cannot allow any team member to compromise. We are reviewing our recruitment policies and will be doing more stringent background checks going forward.

Our sincerest regards,

Atul Singh, Founder, CEO & Editor-in-Chief

Abul-Hasanat Siddique, Co-Founder, COO & Managing Editor

Anna Pivovarchuk, Co-Founder, Board Member & Deputy Managing Editor

Photo Credit: MoMorad

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