Time for another Texas vs. California roundup! Just imagine how the MSM would crucify Rick Perry if the head of, say, the Texas Teacher’s Retirement System were indicted on multiple counts of felony fraud…
A grand jury in San Francisco charged Federico Buenrostro Jr. and Alfred Villalobos, and they were booked and released on bond Monday after briefly appearing in court.
Buenrostro, 64, served as CEO of the California Public Employees’ Retirement System from late 2002 until June 2008. Villalobos, 69, served on the CalPERS board and is a former vice mayor of Los Angeles.
The indictment alleges the two conspired to fabricate documents that certified to federal regulators that Villalobos’ firm had obtained required “investor disclosure letters” from CalPERS to serve as a “transfer agent.” The indictment charges that the falsified documents allowed Villalobos to reap $14 million in fees for serving as a middleman between CalPERS and a prominent investment firm handling $3 billion in CalPERS’ money.