SEC sues former California public pension manager

State integrity news for California, from the Sacramento Bee

The U.S. government sued the two key figures in the CalPERS bribery scandal Monday, targeting the pension fund's former chief executive and a businessman who earned millions in finder's fees from CalPERS investment deals.

The Securities and Exchange Commission's lawsuit steps up the pressure on former CalPERS CEO Fred Buenrostro and his longtime friend, Lake Tahoe businessman Alfred Villalobos.It also contains new details about how the alleged fraud was carried out.

Read the rest of the story at the Sacramento Bee.
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