Forbes – Yesterday a federal grand jury indicted two former top officials of CalPERS, the nation’s largest public pension fund on fraud, conspiracy and obstruction charges. Three years after the “pay-to-play” influence peddling scandal surfaced at the $225 billion fund, the Department of Justice may be poised to investigate and prosecute public pension corruption nationally. Take my word for it, there’s enough public pension corruption across the country to keep DOJ busy for decades.
As a seasoned public pension forensic investigator, it has long been my opinion that potential criminal charges are needed to deter politically-savvy scammers who are confident they will not be held accountable by pension officials they have cozied-up to—officials who are, at a minimum, conflicted and often outright culpable.
