Federal subpoenas sought records on Carmen Sierra’s spending, ties to money managers and a separate $6 million grant as the Hartford treasurer resigned in July 2026 ahead of an audit and after Pension Commission concerns.
FOI-obtained emails show Sierra scheduled at least four 2025 investment-manager performance reviews at Hartford’s Feng Chophouse for firms overseeing about $157.4 million in pension assets, with questions over whether the managers paid for the meals.
Hartford’s ethics code caps permissible food-and-drink gifts at $50 a person, yet one city-funded Feng lunch cost $1,281.51, or $58.25 each, and no receipts are known for the annual review lunches.
After a June 17, 2025 lunch review with Acadian, Sierra recommended investing up to $50 million in its emerging-markets fund, which the Pension Commission approved the next month.
Records also show symposium donations from money managers routed through a nonprofit where Sierra served as treasurer, while Sierra—who was escorted from city property after returning post-resignation—has denied wrongdoing through her attorney.