SLIDESHOW: Face Scrubbers, Balloon Trips: 16 at CalPERS Face Fines for Alleged Gift Violations

Sixteen California Public Employees Retirement System employees and former employees reached a preliminary settlement to pay fines for allegedly receiving but not properly reporting a slew of gifts that included a face scrubber, a hot air balloon ride and tickets to the Rose Bowl Game.

The value of the gifts in question rarely exceeds the low three figures. The largest fine is a relatively modest $3,600. But the humiliation factor? (Priceless.)

The list of alleged gift policy violators was made public by the California Fair Political Practices Commission. These penalties are slated to be finalized at a meeting of the FPPC on September 22nd.

Recall that the FPPC initially investigated CalPERS employees back in May 2011, following even more severe charges by federal and state authorities alleging that former CalPERS Chief Executive Federico Buenrostro and others on CalPERS’s private equity team were wined, dined and sent on luxurious trips at the invitation of Alfred Villalobos, a placement agent and former CalPERS board member who was working on behalf of Apollo Global Management. Villalobos and Buenrostro still face a state level lawsuit, and are also being investigated by federal authorities.

In the subsequent months of heightened scrutiny at CalPERS, the FPPC has focused on lesser violations, particularly the late or lapsed reporting by investment officers and board members of small gifts and meals given by firms that give advice to CalPERS or invest (or want to invest) the pension’s money.

Following is a list of 16 CalPERS employees or ex-employees for whom the FPPC has proposed fines, ordered from biggest fine to smallest. Fifteen others (whose names do not appear here) will receive warning letters as part of the FPPC settlement.

[slideshow]

[slide title=”Shaun ‘John’ Greenwood”]

Name of Alleged Gift Violator: Shaun ‘John’ Greenwood

Position at CalPERS: Portfolio Manager

Fine: $3,600

Gifts Received From: Carlyle Group, Thomas H. Lee Partners, Khosla Ventures, Rhone Group, Credit Suisse and CVC Asia.

Coolest Gift: Ticket to Cirque du Soleil

[slide title=”Dave Merwin”]

Name of Alleged Gift Violator: Dave Merwin

Position at CalPERS Investment Officer

Fine: $2,400

Gifts Received From: LP Capital Advisers, Silver Lake Partners, Centinella Capital Partners, Freeman Spogli Partners

Coolest Gift: Ticket to Oakland Raiders Football Game

[slide title=”Omid Rezania”]

Name of Alleged Gift Violator: Omid Rezania

Position at CalPERS Investment Officer

Fine: $2,400

Gifts Received From: Rogge Asset Management, State Street, Bank of Montreal

Main Gifts: Dinner and Drinks

[slide title=”Michael Dutton”]

Name of Alleged Gift Violator: Michael Dutton

Position at CalPERS Senior Portfolio Manager

Fine: $2,200

Gifts Received From: Blackstone, LP Capital Advisers, Credit Suisse, Hamilton Lane, Lexington Partners

Coolest Gift: Bowling Outing

[slide title=”Jesus Arguelles”]

Name of Alleged Gift Violator: Jesus Arguelles

Position at CalPERS Portfolio Manager

Fine: $2,200

Gifts Received From: Ares Capital, Carlyle Group, Advent International, LP Capital Advisers, GGV Capital

Coolest Gift: Windbreaker

[slide title=”Sarah Corr”]

Name of Alleged Gift Violator: Sarah Corr

Position at CalPERS Senior Portfolio Manager

Fine: $1,600

Gifts Received From: TPG Capital, Carlyle Group, Oak Hill Investment Managers, Probitas Partners, LP Capital Advisers

Coolest Gift: Billiards Outing

[slide title=”Joncarlo Mark”]

Name of Alleged Gift Violator: Joncarlo Mark

Position at CalPERS Senior Portfolio Manager

Fine: $1,400

Gifts Received From: Leonard Green and Partners, Rosewood Capital, Birch Hill Equity Partners, Advent International, Alpha Capital Partners, Credit Suisse

Coolest Gift: Face Scrubber

[slide title=”Dennis Knueven”]

Name of Alleged Gift Violator: Dennis Knueven

Position at CalPERS Portfolio Manager

Fine: $800

Gifts Received From: Draper Fischer Jurvetson, Silver Lake Partners, Thomas Weisel Venture, LP Capital Advisers.

Coolest Gift: Kayak Trip

[slide title=”Lyndall Baker”]

Name of Alleged Gift Violator: Lyndall Baker

Position at CalPERS Portfolio Manager

Fine: $600

Gifts Received From: LP Capital Advisers

Main Gifts: Dinner and Drinks

[slide title=”Richard Duffy”]

Name of Alleged Gift Violator: Richard Duffy

Position at CalPERS: Investment Officer

Fine: $400

Gifts Received From: Western Assets, Turner Investment Partners

Coolest Gift: Tickets to Rose Bowl Game

[slide title=”Robert Eberhardt”]

Name of Alleged Gift Violator: Robert Eberhardt

Position at CalPERS Portfolio Manager

Fine: $400

Gifts Received From: Hines, Starwood

Coolest Gifts: Tie, Scarf, Perfume

[slide title=”Rob Feckner”]

Name of Alleged Gift Violator: Rob Feckner

Position at CalPERS CalPERS Board President

Fine: $400

Gifts Received From: Goldman Sachs, AEW Capital Management

Main Gifts: Dinner and Drinks

[slide title=”Alfonso Fernandez”]

Name of Alleged Gift Violator: Alfonso Fernandez

Position at CalPERS: Senior Portfolio Manager

Fine: $400

Gifts Received From: Black Rock

Coolest Gift: Two Bottles of Wine

[slide title=”Louis Moret”]

Name of Alleged Gift Violator: Louis Moret

Position at CalPERS: Member of CalPERS Board

Fine: $400

Gifts Received From: AEW Capital Management, Capital Guardian

Main Gifts: Dinner and Drinks

[slide title=”Sue Kane”]

Name of Alleged Gift Violator: Sue Kane

Position at CalPERS: Adviser to CalPERS Board President

Fine: $200

Gifts Received From: Goldman Sachs

Main Gifts: Dinner and Drinks

[slide title=”Mary Morris”]

Name of Alleged Gift Violator: Mary Morris

Position at CalPERS: Investment Officer

Fine: $200

Gifts Received From: Corporate Library

Coolest Gift: Hot Air Balloon Ride

[/slideshow]