Businessman at center of CalPERS scandal commits suicide
Updated 2:12pm
By Dale Kasler, Sacramento Bee
SAN FRANCISCO — In failing health and facing up to 30 years in prison, one-time Stateline businessman Alfred Villalobos apparently committed suicide before going on trial in connection with the bribery scandal at CalPERS.
Villalobos’ attorneys, appearing at a pre-trial hearing in U.S. District Court on Wednesday, disclosed that Villalobos died the day before. His death ends the government’s criminal case against the Nevada businessman –and largely closes the books on a corruption scandal that roiled the nation’s largest public pension fund.
Lt. Albert Snover of the Reno police department said Villalobos’ death is being investigated as a suicide. No further details were available.
Villalobos’ death leaves one matter outstanding in the criminal case stemming from the CalPERS corruption probe. The pension fund’s former chief executive, Fred Buenrostro, who has admitted taking more than $250,000 in bribes from Villalobos, is still scheduled to be sentenced in May for his crime.