Tuesday, April 8, 2008
The Securities and Exchange Commission’s civil suit against five former San Diego city employees is not the only case pending that involves alleged city pension fund wrongdoing. Two criminal suits at the state and federal level are still in the works. KPBS reporter Alison St John has more.
Both District Attorney Bonnie Dumanis and the Federal Department of Justice have cases pending against former members of the city's pension board.
While the SEC’s civil case alleges fraud -- a failure to disclose information about the pension deficit to investors -- the state and federal criminal cases allege felony conflict of interest.
The defendants in the different suits are different, though some are named in all three.
Michael Uberaga and Ed Ryan, the city's former manager and auditor are only named in the SEC’s civil suit Lawrence Grissom and Lori Chapin, the pension boards' former administrator and attorney, are only mentioned in the federal case.
While most of those named in the suits resigned long ago, pension board trustee Ron Saathoff, who is named in all three suits, still serves as head of the firefighters union.
The federal suit suffered a delay when the judge presiding over the case was asked to step aside earlier this year. The State's criminal case is due back in court next month.
Alison St John, KPBS News.