Former CalPERS CEO to Plead Guilty in Pension Fiasco
Federico R. Buenrostro, the former CEO of the California Public Employees’ Retirement System (CalPERS), will enter a guilty plea next week. This is in relation with a bribery scandal that sent shockwaves to the pension world and asset management community. Buenrostro’s lawyer, Sacramento-based lawyer William Portanova, revealed the plea news on June 30th. Before that date, Buenrostro insisted he had done nothing wrong in regard to the charges. The maximum penalty against Buenrostro would have been 40 years under the original indictment. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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