Tuesday, July 5, 2011

I feel Santa Barbara's Auditor-Controller Robert Geis and other County officials should be Investigated for possible Fraud and Theft of funds tied to the SBCERS Pension!

My work exposing the fraudulent practices of Santa Barbara Auditor-Controller Robert Geis and it's cost to this County is only just beginning. I have always maintained that the math would not allow for the SBCERS pension to be anything other than fully funded.

I now have documented proof that when you start in 1986 with a 102% funded pension. Than you add 21 years of averaging a 9.3% net return plus a yearly habit of over contributing by 30%. You end up with a pension that should have a 1 Billion surplus. Just like the pension history chart I created a year ago showed. 

  How can we still be allowing our County officials to be eliminating jobs? Sheriff;s District Attorney's, Mental Health, Court Programs everything. Worse yet the money that is being stolen comes right of the top of our County economy. No shopping for work cloths, sending our kids to the movies, buying gas and work meals everyone is effected. 

  The current Board of Supervisors have tried to ignore my concerns and over time that will prove to be a huge mistake. I am not here to try and impress our local elected officials. I am here expecting to show that one person can still change history!

   I have sent a copy of my SEC complaint against this County and their Retirement Board to our Board of Supervisors and Auditor- Controller Robert Geis. I also asked Mr. Geis for any recommendation where I might send my concerns as well and eagerly await his reply.

Larry "MAGIC" Mendoza

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