Then he claimed to fight wall street fraud on the Pemanent Fund, but let them off the hook for billions.

"As attorney general, Sullivan told legislators that the state's case was "amazing" and that the discovery of fraud on Mercer's part greatly strengthened the case. Alaska's New York law firm was "stunned" by what it found Mercer had done, he said.

Sullivan defended his use of the word "fraud" to describe Mercer's actions.

"I don't throw that word around lightly," he told legislators.

In addition to the state's original claims, punitive and treble damages related to fraud could have driven the claims against Marsh & McLennan higher, legislators were told.

But months later, Sullivan signed the settlement agreement for billions less than had been sought.
https://www.adn.com/politics/article/claim-check-sullivan-fought-back-against-wall-street/2014/09/06/

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