APNewsBreak: Pension funds get Google's forfeiture
PROVIDENCE, R.I. (AP) -- The Associated Press has learned that two Rhode Island communities will be able to use about $70 million of money forfeited by Google Inc. to fix their police pension shortfalls.
East Providence and North Providence police had helped a federal investigation into the search engine company's distribution of ads for illegal prescription drug sales. Each community got a $60 million share when Google agreed to forfeit $500 million.
But rules restricted how the money could be spent. The communities asked the U.S. Department of Justice to allow them to use it for pension shortfalls.
A spokesman for Sen. Sheldon Whitehouse told the AP on Friday that the DOJ granted the requests.
East Providence will be allowed to use $49.2 million, while North Providence may use $20.6 million.
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