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Exclusive: Pension fund slams San Bernardino for “sham” bankruptcy

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LOS ANGELES/ SAN FRANCISCO (Reuters) – A high-stakes legal battle intensified Friday as the largest U. S. pension fund filed court papers denouncing the financially troubled California city of San Bernardino for what it called a "sham" bankruptcy and accused the city of "criminal behavior" in withholding payments to the pension plan. The filing by the California Public Employees’ Retirement System, or Calpers, came 10 days after San Bernardino city officials traveled to Sacramento to plead with top Calpers executives for more time to make its payments. . . .

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