Los Angeles News
Bell officials won't receive massive pensions
BELL, Calif. (KABC) -- The Bell city officials charged with misappropriating millions of dollars in public funds won't get the massive pension they'd hoped to collect.
According to the Los Angeles Times, officials like former city manager Robert Rizzo will only get a fraction of the pension money they expected, because the city can't document a series of pay raises.
Before the audit by CalPERS, Rizzo was in line to collect $600,000 to $1 million per year.
Now though, he's expected to get less than $100,000 a year.
Rizzo is one of eight former and current city leaders charged with misappropriating more than $5.5 million from the city treasury.
The Justice Department is investigating potential civil rights and voting rights violations by the city, and the state controller, the U.S.
The Securities and Exchange Commission and the State Department of Corporations also are investigating Bell's finances.
City News Service contributed to this report.
recall, fraud, sec, los angeles news
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