Economy

Demeter

(85,373 posts)

6. SEC accuses two former CalPERS board members of fraud

Tue Apr 24, 2012, 05:26 AM

Apr 2012

http://www.latimes.com/news/la-sec-calpers-m,0,3038562.story?track=rss

The Securities and Exchange Commission today sued two former members of the California Public Employees' Retirement System, alleging they "induced" investment firms to pay fees in exchange for receiving contracts to handle investments for the pension fund.

Named in the lawsuit were Federico R. Buenrostro, a former CalPERS chief executive, and Alfred J. R. Villalobos, a former board member and a Los Angeles deputy mayor in the 1990s. They are accused of scheming to defraud private investment firm Apollo Global Management of $20 million in fees in return for placing CalPERS investments with Apollo.

The civil action seeks them to return any ill-gotten gains, pay financial penalties and be permanently enjoined from violating federal securities laws....

ONLY TWO? THAT'S NOT BAD FOR THE CORRUPT US.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

56 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH -- Tuesday, 24 April 2012 [View all] Tansy_Gold Apr 2012 OP

The American Dream Demeter Apr 2012 #1

Can Obama TRUMP CITIZENS UNITED with SIGNING STATEMENTS? Demeter Apr 2012 #2

What If Pensions Funds Grabbed the Reins? Demeter Apr 2012 #3

SEC accuses two former CalPERS board members of fraud Demeter Apr 2012 #6

Ex-Calpers chief accused of fraud Demeter Apr 2012 #10

Dreaming of a New �Norm� for Executive Pay By Froma Harrop Demeter Apr 2012 #4

Employees, Too, Want a Say on the Boss�s Pay By GRETCHEN MORGENSON Demeter Apr 2012 #32

New York Times Details Widespread Bribery in Wal-Mart Mexico and Top Executive Coverup Demeter Apr 2012 #33

Weighing the Legal Ramifications of the Wal-Mart Bribery Case Demeter Apr 2012 #47

Ten Reasons the JOBS Act Is an Insane Race to the Bottom By William K Black Demeter Apr 2012 #5

With horrorscopes like this, who needs enemies? Demeter Apr 2012 #7

Investors launch Deutsche Bank protest Demeter Apr 2012 #8

Facebook profits dip before IPO Demeter Apr 2012 #9

Europe must confront crisis of legitimacy Demeter Apr 2012 #11

Eurozone economic activity contracts Demeter Apr 2012 #13

Obama pushes for student debt reprieve Demeter Apr 2012 #12

Debt slaves will only be beaten on Tuesdays! Whoopee! rfranklin Apr 2012 #16

That depends on whether one learns anything that can be applied to the real world Demeter Apr 2012 #17

You sound like an old fuddy duddy! There are huge numbers of students pursuing "practical" careers rfranklin Apr 2012 #24

What if Steve Jobs Hadn't Dropped Out of Harvard? Demeter Apr 2012 #28

It was... AnneD Apr 2012 #37

Steve Jobs went to Harvard for a two year training from 1996 to 1997. Demeter Apr 2012 #44

Thanks.... AnneD Apr 2012 #50

Yeah, Jobs dropped out of Reed Demeter Apr 2012 #51

THE WORLD'S ECONOMIC SPRING MEET-AND-GREET Demeter Apr 2012 #14

It's hard to find news this week Demeter Apr 2012 #15

My dogs were barking furiously outside yesterday DemReadingDU Apr 2012 #19

I can't blame the poor puppies--they could have been brained! Demeter Apr 2012 #31

Gideon Sundback Google Doodle DemReadingDU Apr 2012 #18

Lehman Brothers "Fudged the Numbers," Says Investigator Demeter Apr 2012 #20

morning xchrom Apr 2012 #21

What are they looking at? Is that a dog in the background? n/t DemReadingDU Apr 2012 #39

i figure kids looking at something Gross. like worms. xchrom Apr 2012 #41

STIGLITZ: America Is Being Devoured By Parasites xchrom Apr 2012 #22

Being gutted by multinationals and banksters doesn't constitute a "transition" Demeter Apr 2012 #30

stiglitz interview in The European xchrom Apr 2012 #23

IMF encourages Europe's economic suicide By Ambrose Evans-Pritchard Demeter Apr 2012 #25

IMF allows eurozone to stay in its fantasy world By Liam Halligan Demeter Apr 2012 #26

Markets looking rosier today Roland99 Apr 2012 #27

Ben is such a sissy Demeter Apr 2012 #29

Duty Calls Demeter Apr 2012 #34

... xchrom Apr 2012 #35

Irish mortgage arrears still rising, Bank of Ireland warns xchrom Apr 2012 #36

US home prices drop for 6th straight month xchrom Apr 2012 #38

and Apple reports later today. Good? Bad? DemReadingDU Apr 2012 #40

they've been getting Dinged here lately -- so i don't know. nt xchrom Apr 2012 #42

Apple Reports Results for Q2 2012: $11.6 Billion Profit on $39.2 Billion in Revenue hamerfan Apr 2012 #54

Japan's Nikkei falls, investors rattled by European politics xchrom Apr 2012 #43

What about all those excess reserves at the Fed? Edward Harrison Demeter Apr 2012 #45

How Pete Peterson is driving the fiscal consensus By Felix Salmon Demeter Apr 2012 #46

Jailed for $280: The Return of Debtors' Prisons Demeter Apr 2012 #48

Debtors filing lawsuits over aggressive collection tactics Demeter Apr 2012 #49

Watch for this to increase... AnneD Apr 2012 #52

They need to have more prisoners to work private farms. Fuddnik Apr 2012 #53

Brother Were Art Thou...... AnneD Apr 2012 #56

Hugging 13K like an addict; what a market--not Demeter Apr 2012 #55