Ex-CalPERS Official Can't Move SEC Suit To Bankruptcy Court

Law360, New York (November 27, 2012, 7:05 PM EST) -- A Nevada federal judge on Monday refused to move to bankruptcy court a U.S. Securities and Exchange Commission suit targeting former officials of the California Public Employees' Retirement System over an alleged fee scam targeting an investment firm, finding the case centers too closely on securities laws.

U.S. District Judge Robert C. Jones denied the motion to remand the action to a bankruptcy court, which was brought against former CalPERS CEO Federico R. Buenrostro and former CalPERS board member Alfred J.R. Villalobos. The pair stand accused...
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