SACRAMENTO — The Fair Political Practices Commission on Wednesday fined the former manager of the state's Cal-Vet home loan program $250 for failing to disclose his interest in 10 properties over a period of three years.
William P. V. Garcia, now a supervising property agent for the Cal-Vet program in the state Department of Veterans Affairs, failed to report his deed of trust interests in properties in Sacramento and Broderick that he had sold, the FPPC found.
Under the law, top-level state and local officials are required to annually report their sources of income and financial holdings to the public.
As manager of the division that approved or rejected applications by California veterans for farm and home loans, Garcia could have made decisions affecting the value of his interests, thus creating the potential for a conflict of interest, the FPPC said. However, the agency found no evidence that Garcia had in fact made decisions affecting the properties.
Garcia told the political watchdog agency he believed that he was not required to report his continuing interest in the properties, according to the FPPC.