May 6, 2010 |
State authorities sued former top California pension fund officials Federico Buenrostro Jr. and Alfred R. Villalobos on Wednesday for their role in an alleged scheme to get business for investment firms by giving pension officials luxury trips and other gifts. The civil suit alleges that Buenrostro — chief executive of the powerful California Public Employees' Retirement System from 2002 to 2008 — took tens of thousands of dollars' worth of gifts from Villalobos, a former Los Angeles deputy mayor who now works as a go-between for investment firms.
CALIFORNIA | LOCAL
July 14, 1993 |
Alfred R. Villalobos, a wealthy Latino investment banker known as an able fund-raiser in GOP circles, was named deputy mayor for economic development Tuesday. The appointment of Villalobos, a divorced, 48-year-old Tarzana businessman and lifelong Republican, immediately drew bipartisan praise from the Latino civic community, including Councilmen Richard Alatorre, who supported Mayor Richard Riordan, and Mike Hernandez, who backed Riordan's foe in the recent runoff, Mike Woo.
May 6, 2010 |
A state lawsuit targeting two top former officials of the California Public Employees' Retirement System could be the first in a series of state and federal actions focused on the nation's largest public pension fund. "This is not the end of this case or the end of the investigation," said Atty. Gen. Jerry Brown at a Thursday press conference. "Other things could follow," Brown said that information from his investigation or independent investigations could result in more law suits or criminal indictments from a local district attorney, the Fair Political Practices Commission or other law enforcement agencies.
May 28, 2010 |
Investment intermediary Alfred R. Villalobos, seeking to overturn a judge's freeze on his assets, said he did nothing illegal and did not harm California's largest public pension fund when he brokered investment deals that netted him more than $47 million in commissions. "Not a penny" of the commissions paid him from 2002 to 2008 came from the California Public Employees' Retirement System, Villalobos said in his first public response to a securities fraud lawsuit filed by Atty.
May 29, 2010 |
A state judge on Friday cited a long history of high-stakes gambling losses as a principal reason for denying a request from Nevada pension fund marketing intermediary Alfred R. Villalobos to lift a court-ordered freeze on his assets. Villalobos, who attended the hearing but did not speak, is a central figure in state and federal investigations of the role of investment go-betweens at public pension funds. His assets were frozen, through a court-appointed receiver, as part of a fraud lawsuit filed against him by the California attorney general's office.
September 16, 1997 |
Over objections from its own advisors, the board of the state's largest public pension system decided to invest $100 million in a Texas-based partnership after being lobbied by a former board member and a powerful state senator. The investment, approved in a closed-door session, was extraordinary in several respects. The involvement of both an ex-board member and a lawmaker may be unprecedented. The board rarely overrides its staff and consultants.