Ex-CalPERS chief charged with fraud

The U.S. /*Securities and Exchange Commission*/ (SEC) filed civil fraud charges against Federico Buenrostro and his friend Alfred J.R. Villalobos Monday.

Buenrostro headed the /*California Public Employees' Retirement System*/ (/*CalPERS*/).

The SEC says the men fabricated documents with a fake CalPERS logo to trick prominent investment firm Apollo Global Management into paying $20 million in fees to Villalobos's companies for helping market securities.

There's been no comment from either man about the charges.

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