Copying and distributing are prohibited without permission of the publisher
SEC charges former CalPERS CEO
24 April 2012
The CEO and a friend defrauded an investment firm into paying $20m in fees to the friend's placement agent firms
Read more:
CalPERS
Apollo Global
The Securities and Exchange Commission has charged the former CEO of the California Public Employees' Retirement System (CalPERS) and his close personal friend with scheming to defraud an investment firm into paying $20m in fees to the friend's placement agent firms.
The SEC alleges that former CalPERS CEO Federico Buenrostro and his friend Alfred Villalobos fabricated documents given to New York-based private equity firm Apollo Global Management. Those documents gave Apollo the false impression that CalPERS had reviewed and signed placement agent fee disclosure letters in accordance with its established procedures.
Access to this content is denied because you are not logged in. Please login to view this content
Already have an account?
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Free trial
Taking a free trial will give you access to the current issue for two weeks (excluding
some surveys and articles). Start your free trial today.
