Finally! Some Action
Jan 7th, 2006 by Mark
Five former Executives of the San Diego Pension System were indicted this week. After years and years of mis-management of public funds, the Feds finally woke and decided to do something about it.
Law enforcement sources said the indictments are the first part of a far-reaching criminal investigation that could stretch into the highest levels of a city government already reeling from multiple scandals.
Lawrence Grissom, the former administrator of the San Diego City Employees Retirement System, and Loraine Chapin, the system’s general counsel, were indicted along with firefighters union president Ronald Saathoff, former city human resources director Cathy Lexin, and former acting city auditor Teresa Webster.
Yep the Union is involved. Sweetheart deals, and insider connections may finally come home to roost.
The indictment said the defendants conspired to illegally obtain enhanced retirement benefits for themselves – in one case as much as 35 percent higher – in exchange for allowing the financially strapped city to under-fund the pension system.
And, the indictment said, they did so in secret, concealing information from other pension board members and the public.
The mis-management was so bad, that is was openly talked about, even though they tried to hide it. The arrogance of the board members was only exceeded by the lack of concern by the general Public.
Only after the city was teetering on the verge of bankruptcy did anyone even consider that maybe the deals that were being made might be a problem. Even after the city finances were exposed as dubious, the board continued to make sweetheart deals and fatten their retirement. All with the help of the city council.
Maybe now they will ‘get the numbers right.’
*** San Diego America’s Finest City!! **
Zucchet Appeal
More Money From Taxpayers
They Just Keep Screwing the City
G-String Update
Auditor, We Don’t Need No Stinkin’ Auditor
Corrupt Centre City
Current (as of then) City Council Lineup
More Corruption
G-String Probe
Leave a Reply
Comment failing to appear is due to: shortness (one line), dot INFO URLs, 2 or more URLs, banned words, or the cache has turned on due to high traffic. If your comment fails to appear within an hour, contact me here: about me page.