Thursday, September 28, 2023 3:30 am

Police want criminal charges in Arizona alleged inflation of real estate values

PensionsBy Craig Harris | The Arizona Republic

The 13,000-member Arizona Police Association has called for a criminal investigation into whether the Public Safety Personnel Retirement System improperly reported the values of some real-estate assets in an annual report in order to improve the bottom line.

The association, whose members are beneficiaries of the underfunded public-safety pension plan, last month asked the Arizona Attorney General’s Office to launch the probe in a letter to the criminal-division chief.

“There is a cloud of smoke ascending from PSPRS. Only a criminal investigation will reveal what the source of the smoke is,” wrote Levi Bolton, the police association’s executive director.

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