CalPERS Employee Accused of Embezzling $685,000 from Beneficiary Bank and CalPERS Accounts Hasn't Been Arrested, Much the Less Prosecuted. Why the Cover Up?
As storied short seller David Einhorn would say, “No matter how bad you think it is, it’s worse.” The lawyers and banking experts I’ve contacted thus far have never heard of a case like the latest from CalPERS, which is saying a lot. As you can see from the embedded filing below, CalPERS is suing Gloria Najera, a former employee it says embezzled $685,000 from beneficiaries, including, Wells Fargo style, from a beneficiary’s bank accounts. The civil claim is sketchy on the timetable, but Najera was a clerical worker responsible for updating beneficiary addresses and bank direct de...
Source: nakedcapitalism.com