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: Legal Pad | LA

SEC suit against San Diego officials is a warning to other local governments

By Jason Siegel

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The U.S. Securities and Exchange Commission's lawsuit against five former San Diego officials is the first time the commission has sought civil penalties, possible $240,000 each, against municipal employees, KPBS reported. (LISTEN)

The suit, over the officials role in understating the city's pension debt to bond investors, is a warning to other local governments that officials public wealth can be on the line, American Governmental Financial Services president Robert Doty told KPBS.

Full post as published by Legal Pad | LA on April 16, 2008 (boomark / email).

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