The former chief executive of CalPERS has had his sentencing postponed again for his role in the bribery scheme that gripped the giant pension fund six years ago.
Fred Buenrostro, who was scheduled to be sentenced July 29, will now be sentenced Dec. 10. Sentencing will take place in U.S. District Court in San Francisco.
Buenrostro’s sentencing has now been postponed three times so he can continue to cooperate with government investigators looking into the bribery case.
The former CEO is facing a likely five-year prison term after pleading guilty last July to accepting more than $250,000 in cash and other benefits from Nevada businessman Alfred Villalobos.
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According to Buenrostro’s plea agreement, Villalobos was trying to steer CalPERS investment dollars to his private equity clients.
Villalobos died in an apparent suicide in Reno in January, a month before he was scheduled to go on trial in the case. The state of California and the U.S. Securities and Exchange Commission have civil suits pending against Buenrostro and Villalobos’ businesses, and officials say Buenrostro is cooperating with officials pursuing those cases.