Following is the SEC report on the enforcement actions relating
to the Commission's investigation into the financial collapse of
Orange County, California.

1. the filing of a complaint in the United States District
Court against former Orange County Treasurer-Tax
Collector Robert L. "Bob" Citron and former Assistant
Treasurer Matthew R. Raabe

2. the institution of a cease and desist administrative
proceeding and the entry of a cease and desist order
against Orange County, the Orange County Flood Control
District and the Orange County Board of Supervisors

The SEC found that the Board of Supervisor members
including Gaddi Vasquez did not fulfill their
obligations under the antifraud provisions of the federal
securities laws in authorizing the issuance of the municipal
securities and related disclosure documents.

This is the link to the full SEC Report:


SEC INITIATES ACTIONS IN ORANGE COUNTY INVESTIGATION