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We'll hear testimony from the executive director of the
Central States pension Fund about the administration of
a $5 billion fund. And the Commissiun's staff will
present a case study of organized crime corruption in
a $5 million fund. Whatever the size of the benefit
fund, however, it will be apparent that union fiduciaries
and officials cannot excuse their dereliction when it
comes to benefit funds' management. The safety net for
too many millions of Americans could be up for grabs by
organized crime.
MR. RYAN; Mr. Walsh is a distinguished inves­
tigator who has been assigned to the President's Commis­
sion on Organized Crime. He has been with the Internal
Revenue Service Criminal Investigation Division and has
over 27 years of experience in law enforcement. He has
been the supervisor of a number of major investigations
during his career and he was the supervisor of the par­
ticular investigation we are about to discuss.
Mr. Walsh, would you stand to be sworn, sir?
JOHN WALSH
was called as a witness and, having been first duly
sworn, was examined and testified as follows:
MR. RYAN: Let me state at the outset before
you begin testifying, Mr. Walsh, that we had hoped today
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