SACRAMENTO: Securities and Exchange Commission, SEC files charges against former CalPERS CEO Federico Buenrostro, Jr., and former CalPERS board member Alfred Villalobos, $20 million fraud case....
Monday, April 23, 2012 at 2:42PM * Los Angeles Times: "Villalobos, Buenrostro targets of CalPERS fraud enforcement action"- From the LAT:
Federal securities regulators sued a former chief executive and a former director of the country's largest public pension funds, accusing them of scheming to defraud an investment firm of more than $20 million in fees.
The Securities and Exchange Commission filed the lawsuit Monday against the former CEO, Federico Buenrostro Jr., and the former CalPERS board member, Alfred J.R. Villalobos, alleging that they fabricated documents provided to Apollo Global Management in New York. The documents were the basis used by Villalobos and his companies, ARVCO Capital Research and ARVCO Financial Venturues of Zephyr Cove, Nev., to bill Apollo for placement fees..................
* Sacramento Bee: "SEC sues former CalPERS chief executive, former board member"
* San Francisco Chronicle (Bloomberg): "SEC files charges against ex-CalPERS CEO, friend"
* San Francisco Chronicle (The Bottom Line): "SEC charges former CalPERS CEO in $20 million fraud case"