Tag Archives: CalPERS

Brown Files Suit Against Former CalPERS Officials And Freezes Assets of Alfred Villalobos

Attorney General Edmund G. Brown Jr. today announced that his office has filed a civil suit against former California Public Employees Retirement System (CalPERS) Board Member Alfred Villalobos, his company ARVCO Capital, and former CalPERS CEO Federico “Fred” Buenrostro, charging them with fraud.

“Working as a placement agent for ARVCO, Villalobos spent tens of thousands of dollars to lavishly entertain key senior executives at CalPERS, who then influenced the Board to authorize investments that generated over $40 million in commissions to Villalobos,” explained Brown. “None of these actions were disclosed as required by law, as state pension holders and taxpayers have every right to expect.”

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