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UPDATE 2-SEC charges former Calpers CEO with fraud scheme ^ | 4/23/12 | Reuters

Posted on 04/23/2012 3:35:32 PM PDT by ColdOne

* SEC says ex-CEO, ex-board member fabricated documents

* Two charged with scheming to defraud a firm of $20 mln

(Reuters) - A former chief executive of Calpers, the biggest U.S. public pension fund, and a former board member were charged by federal regulators on Monday with scheming to defraud Apollo Global Management, a private equity firm, of more than $20 million in placement fees.

The U.S. Securities and Exchange Commission said that Federico Buenrostro, a former chief executive of the California Public Employees' Retirement system, and Alfred Villalobos, a friend and former board member who became a placement agent, fabricated documents as part of the fraud.

Villalobos is also a former deputy mayor of Los Angeles.

Investment firms hire placement agents to help them land business at pension funds.

(Excerpt) Read more at ...

TOPICS: Crime/Corruption; Government; News/Current Events
KEYWORDS: apollo; calpers; sec; villalobos

1 posted on 04/23/2012 3:35:36 PM PDT by ColdOne
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To: ColdOne

Dems , I’m assuming...

2 posted on 04/24/2012 5:01:03 AM PDT by TurboZamboni (Looting the future to bribe the present)
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