It has been reported that law enforcement agencies have scaled another echelon in their investigation of the Obama administration's former auto industry advisor. They have come to a settlement with the private-equity firm that he had co-founded. Steven Rattner, former auto industry advisor to the Obama Quadrangle Group, New York Attorney General Andrew M. Cuomo administration, is undergoing an investigation for corruption.

New York Attorney General, Andrew M. Cuomo, announced a $7 million settlement with Quadrangle Group that was co founded by Steven Rattner. However, this settlement does not exonerate Quadrangle's Managing Principal Steven Rattner.

It has been revealed that Quadrangle has deemed Rattner's role in the allegations as improper. It has also acceded to cooperate and help in the investigation.

Quadrangle revealed in a statement released by the office of the Attorney General, "We wholly disavow the conduct engaged in by Steve Rattner, who hired the New York State Comptroller's political consultant, Hank Morris, to arrange an investment from the New York State Common Retirement Fund. That conduct was inappropriate, wrong, and unethical".

The investigations of the case have been going on for the past three years.