On May 9, 2012, the Securities and Exchange Commission ("SEC") charged former Detroit mayor Kwame M. Kilpatrick, former city treasurer Jeffrey W. Beasley, MayfieldGentry Realty Advisors, LLC ("MGRA") a registered investment adviser, and Mayfield the CEO and majority owner of MGRA, in connection with allegations that they were involved in a secret exchange of lavish gifts to peddle influence over Detroit’s public pension funds’ investment process.