American Chronicle – A Los Angeles businessman has pleaded guilty to corruption charges in a pension fund scandal that began in New York and is heading west.

Julio Ramirez Jr.’s guilty plea to securities fraud, revealed Tuesday in New York, tightened the connection between that state’s scandal and the pension fund industry in California. The charges arise from Ramirez’s work as an unlicensed "placement agent" for Wetherly Capital Group of Los Angeles, a politically connected firm that has secured investment business from CalPERS and CalSTRS.

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