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Former CalPERS CEO Pleads Guilty to Multiple Crimes

Posted July 11th, 2014 @ 4:09pm

Fred Buenrostro, the former CEO at CalPERS, has pleaded guilty to conspiracy to commit bribery and fraud. The sixty-four-year old admitted that he took $200,000 in cash and other bribes from a Lake Tahoe businessman who was attempting to influence investment decisions. He's agreed to cooperate with prosecutors as they pursue charges against that longtime friend, former CalPERS board member Alfred Villalobos. Buenrostro faces up to five years in prison when he’s sentenced in January.

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