Pension Fraud round 2

So here is an article from the LA Times - Former CalPERS officials indicted on fraud, obstruction charges. Here is the opening paragraph:

"Federal prosecutors in San Francisco indicted former CalPERS Chief Executive Fred Buenrostro and former board member Alfred J.R. Villalobos on Monday afternoon as part of a years-long investigation into possible influence-peddling and corruption." Then we have this article from the LA Times - CalPERS indictments: Should more heads roll?.

Now, here is what we know. Firstly, California did not file criminal charges against these two. Secondly, many of the same people from Calpers that gave Mr. Villalobos money are still there. Thirdly, Federal prosecutors said that this prosecution is the result of years of investigation. My long term readers will remember that there is another man that I have been talking about for years, Mr. Elliott Broidy. Mr. Broidy had plead guilty to fraud and bribery with the New York public pensions. Mr. Broidy was basically set free in exchange for his helping convict government officials in New York and now he is back in Los Angeles. What if he turns evidence against these people, he was also on public pension boards and knows them.