Ex-CalPERS chief charged with fraud
The former CEO of California's big employee pension fund is in serious legal trouble Tuesday morning.
The U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Federico Buenrostro and his friend Alfred J.R. Villalobos Monday.
The SEC says the men fabricated documents with a fake CalPERS logo to trick prominent investment firm Apollo Global Management into paying $20 million in fees to Villalobos's companies for helping market securities.
There's been no comment from either man about the charges.
fraud, sec, california news
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