Judge confirms freeze on assets in CalPERS lawsuit

The San Diego Union Tribune reports:

A judge Friday confirmed an order freezing the assets of a former California Public Employees Retirement System board member who has been accused of fraud after agreeing with the state attorney general's office that he might gamble away millions of dollars.

Los Angeles County Superior Court Judge John Reid extended a temporary order that was issued when the attorney general's lawsuit against Alfred Villalobos was filed May 5.

The suit alleges Villalobos defrauded CalPERS by operating as a so-called "placement agent" without a license and awarded kickbacks to pension fund officials who steered investments to his clients.

No word yet from Rod Blagojevich on this one.