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U.S. prosecutors accused a former portfolio manager at New York state's retirement fund of steering $2 billion in trades in exchange for bribes from brokerage employees, in the latest pay-to-play case to rock the fund.

Navnoor Kang, the ex-director of fixed income at the New York State Common Retirement Fund, was charged in Manhattan federal court along with Deborah Kelley, a former Sterne Agee Group managing director.

Prosecutors alleged some bribes came in the form of weekend trips to Montreal, which would include prostitutes, nightclub bottle service and narcotics, as well as luxury gifts and cash payments. 

A broker-dealer named Gregg Schonhorn spent thousands of dollars on the defendant at strip clubs, upscale restaurants, Broadway shows, tickets to the U.S. Open tennis, cocaine and crack cocaine. The defendant was also handed thousands of dollars in cash to pay for prostitutes and strippers.

Schonhorn bought him a $17,420 Panerai wristwatch from a Madison Avenue store, as well as an $8,000 Rolex. Both parties used the messaging app WhatsApp to keep their communications from being monitored.   Schonhorn secretly pleaded guilty to related charges.

A Trip to Montreal with a visit to a night club and prostitute cost that much...?