SAN DIEGO (AP) The Securities and Exchange Commission said Tuesday that it filed civil fraud charges against San Diego's former auditor, alleging he made false and misleading financial statements that were used in city bond offerings.
The SEC said Thomas Saiz and his former firm Calderon, Jaham & Osborn signed off on incorrect statements about the health of the city's pension fund. The statements came in five city bond offerings in 2002 and 2003 that raised $260 million.
As part of a settlement filed Monday, Saiz agreed to pay a $15,000 civil penalty. Neither he nor the firm admitted wrongdoing.