The

Securities and Exchange Commission

sued Paul J. Silvester, the former treasurer of Connecticut, accusing him of taking kickbacks from two private equity firms for investing around $350 million in state pension funds.

Last year, Silvester pleaded guilty to charges including racketeering for steering state pension money to five investments.

The civil suit also sued

Triumph Capital Group

, whose executives the SEC accused of paying $1 million in consulting contracts to Silvester's friends after Silvester placed $200 million with the company.

It also accused

TheStreet Recommends

Landmark Partners

of a similar arrangement involving a $150 million investment and a $1.5 million finder's fee paid to a friend of Silvester.

The

Wall Street Journal

has reported that

PaineWebber

( PWJ) is under scrutiny in the criminal investigation for $200 million in investments placed by Sylvester in pension funds the firm managed.

Juan Marcel Marcelino, district administrator for the Boston District Office of the SEC, said the investigation is continuing. He declined to elaborate.

Hubert Santos, a lawyer for Silvester, could not immediately be reached.