Former CalPERS Officials Indicted on Fraud Charges

Federico Buenrostro Jr. and Alfred J.R. Villalobos both deny involvement in the pension scandal

SACRAMENTO — Three years after a major influence-peddling scandal rocked California and the nation's largest public pension fund, a federal grand jury indicted two former top officials on fraud, conspiracy and obstruction charges.

The indictment, unsealed Monday in San Francisco, names as defendants Federico Buenrostro Jr. of Sacramento, a former chief executive of the California Public Employees' Retirement System, and Alfred J.R. Villalobos of Reno, Nev., a former CalPERS board member and one-time deputy Los Angeles mayor.