Posted by Shawn Steel at 12:00 am on Mar 15, 2011 Comments Off on Gerald Parsky named in corruption probe
Today’s L.A. Times headlines "Investigation details deals at
CalPERS." March 15, 2011 in a lengthily account by reporters Marc
Lifsher and Stuart Pfeifer had this to say.
" While at CalPERS, Buenrosto [ CEO] repeated " inserted himself
into the investment process in a manner inconsistent wit prior
practice at CalPERS, pressing its investment staff to pursue
particular investments without evident regard for their financial
merits."
It is said Buenrostro intervened with staff on behalf of Aurora
Capital Group of Los Angeles [ Gerald Parksy] to obtain investment
money. Buenrostro told subordinates that Aurora was
politically powerful, and that Aurora principal Gerald Parsky
served on a state commission [appointed by Gov Schwartznegger]
dealing with public employee benefits, the report
said."
Aurora was a Villalbos [principal figure of the probe], and
Buenrostro told the board, and those complaints "become a basis for
the board’s efforts to replace him as CEO," the report said."
CalPERS is the nation’s largest public pension fund, with
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