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By Brian Hews
Hews Media Group-Community News has exclusively learned that the SEC has started an inquiry and has provided the MUSD a notice to possess relevant documents and data.
Sources are telling HMG-CN that the SEC investigation is a result of HMG-CN’s exposé on Ruben Rojas and the $300 million MUSD bond procurement process.
Former MUSD CBO Ruben Rojas (far left) at a 2014 Bi-COG San Gabriel Valley & Gateway Cities Councils of Government meeting. With Rojas is Rep. Grace Napolitano and Rep. Lucile Roybal-Allard
The SEC is asking everyone at MUSD to ensure that documents, emails and notes, including electronic notes, are maintained and not destroyed.
MUSD employees were advised to preserve documents, to not shred documents and to not reformat hard drives
MUSD Superintendent Anthony Martinez told employees, “again, being accused of destroying evidence after learning of investigation can’t be worse in the outcome of the original investigation, thank you for your full cooperation.”
An SEC investigation often starts with a ‘Preservation Letter’ saying that an organization may have documents they might be interested in and that the organization is put on notice to maintain the availability of the data items listed.
This essentially buys the SEC time to begin a more thorough investigation, which can often branch out to various other associated parties.
In the Preservation Letter, the SEC will list the subject matter of the documents and records to preserve.
According to Martinez’ email, the SEC letter asked to preserve all documents.
The SEC could also be in the process of getting documents from other people. Many times the SEC will send the letter to witnesses also who they believe may have information relating to another investigation target.
HMG-CN, under the Freedom of Information Act, requested to see the SEC letter yesterday.
