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BY BRIAN HEWS
Recently, the Securities and Exchange Commission filed a complaint against former Montebello Unified Chief Business Officer Ruben Rojas alleging fraud, misleading investigators, defrauding bond purchasers, mail fraud, and assisting the MUSD with the ongoing fraud in the sale of municipal bonds in 2016.
In addition, the SEC filed an order against MUSD and Montebello Superintendent Anthony James Martinez.
Those documents stated that, “Martinez signed one of the misleading bond offering documents, a misleading letter to LACOE, and false closing certificates that were provided to bond and disclosure counsel and the underwriters in connection with the offering.”
Martinez was ordered to “cease and desist” on any matters concerning securities and must pay a $10,000 penalty.
But evidently, the Montebello Teacher’s Association did not know about their Superintendent’s settlement agreement and fine.
An email obtained by HMG-LCCN from the MTA stated in the subject line, “Ruben Rojas Charged for Defrauding Investors by SEC”
The body of the email stated, ” For over a year now, the Securities and Exchange Commission (SEC) has been investigating MUSD’s handling of the sale of the first $100 Million worth of bonds that the District received from Measure GS. Today, the SEC announced that they would be charging for MUSD Chief Business Officer with fraud charges in relation to the sale of the bonds.”
One teacher commented, “This was sent to all MUSD teachers. It does not mention Martinez and the fine at all. Seems like a cover-up since Martinez is in good with union.”
Calls into the MTA went unreturned.
