SEC Sues Former CalPERS CEO Over Bogus Documents

Law360, New York (April 23, 2012, 5:57 PM EDT) -- The U.S. Securities and Exchange Commission on Monday sued the former CEO of the California Public Employees' Retirement System and his longtime friend, claiming they conned a New York investment firm into paying $20 million to the friend’s placement agency companies.

The SEC lodged the suit in a Nevada federal court, claiming that former CalPERS CEO Federico R. Buenrostro along with his friend and former CalPERS board member, Alfred J.R. Villalobos, made up bogus documents to give to private equity firm Apollo Global Management.

These fabricated...
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