According to http:\/\/www.sec.gov\/news\/press\/2012\/2012-73.htm<\/a>\u00a0website Buenrostro (former CalPers CEO) directed placement agent fees to Villalobos through falsification of documents with CalPers logo.\u00a0 The placement fees paid\u00a0were at least $20 million dollars.<\/p>\n The letter was a new requirement by this fund company for fees paid\u00a0to placement agents that assisted in raising funds.<\/p>\n There seems to be no end of leading executives who continue to cross ethical lines to enrich themselves\u00a0and their friends.\u00a0 Kudos to the SEC for identifying this action and hopefully, if found guilty, will apply a sufficient deterrence to discourage others from crossing over this very clear ethical line.<\/p>\n Edi Alvarez, CFP\u00ae www.aikapa.com<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" SEC Charges Former CalPERS CEO and Friend With Falsifying Letters in $20 Million Placement Agent Fee Scheme According to http:\/\/www.sec.gov\/news\/press\/2012\/2012-73.htm\u00a0website Buenrostro (former CalPers CEO) directed placement agent fees to Villalobos through falsification of documents with CalPers logo.\u00a0 The placement fees … Continue reading
\n<\/sup>BS, BEd, MS<\/p>\n