The SEC sues CalPERS' former CEO Fred Buenrostro and board member Alfred Villalobos, alleging a...

|By:, SA News Editor

The SEC sues CalPERS' former CEO Fred Buenrostro and board member Alfred Villalobos, alleging a scheme where Villalobos acted as a "placement agent," securing deals from the pension fund for his PE clients in return for big fees. The two have previously been sued by the state of California.