Ex-CalPERS CEO, board member charged with fraud
Federal officials have charged the former head of the nation's largest pension fund and one of his business associates in an influence peddling and bribery case.
A federal grand jury on Monday indicted Fred Buenrostro, the former CEO of the California Public Employees' Retirement System, and former CalPERS board member Alfred Villalobos with conspiring to commit fraud, obstruction of justice and other charges.
The Securities and Exchange Commission filed a lawsuit against the pair last year.
The SEC alleged the pair fabricated financial documents to dupe a prominent investment firm into paying $20 million in fees to Villalobos' firms for investing $3 billion worth of CalPERS' money.
Buenrostro was CalPERS' CEO from late 2002 through June 2008. The day after retiring from CalPERS, he began working at Villalobos' firm.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Car dealerships turn advertising, sales focus to women
- Hackers cash in on online payday loans
- How to stand out, succeed in short-tenure jobs
- Dollar’s strength bruises companies
- Businesses pursue A-list clients
- Kim Komando: Dig up dirt on daughter’s boyfriend online
- Transition to planes without pilots imagined
- Tips for parents helping child buy a home
- India’s poor, traders fear push to ban beef
- U.S. oil, natural gas rig count drops by 34 to 954
- Is Big Brother a backseat driver?