L.A. Private Equity Firm Agrees to $2.3M Settlement With Bankruptcy Estate of Former CalPERS Board Member
Aurora Capital Group, a Los Angeles-based private equity firm, has agreed to pay a $2.3 million settlement to the bankruptcy estate of former CalPERS board member Alfred Villalobos. Villalobos was indicted on charges of fraud, conspiracy and obstruction of justice after a long investigation into alleged fraudulent efforts to secure million-dollar pension fund investments and other self-benefiting deals. Aurora stopped paying Villalobos in 2010, arguing that his actions constituted a breach of contract.
- "Investment Firm To Pay $2.3 Million to Estate of CalPERS Bribery Figure" (Kasler, Sacramento Bee, 11/6).