Jeff Smith 2 p.m., Dec. 18
SEC Charges Former Silberman Associate with Fraud
The Securities and Exchange Commission has charged San Diegan Peter L. Jensen and another executive with fraudulently inflating revenues of Cucamonga's Basin Water, now defunct. The securities agency charges that Jensen and Thomas Tekulve fraudulently pumped up revenues for the company. Then Jensen dumped a boatload of stock, says the agency.
From 1983 to 1990, Jensen was president of Yuba Natural Resources, the San Diego-based gold company promoted by former political powerhouse Richard Silberman, top aide to Gov. Jerry Brown in his first incumbency and former husband of former Mayor Susan Golding. Silberman went to prison for laundering money that an FBI agent had said was Columbian cocaine trafficking loot. Jensen then headed Western Water Co. of San Diego. The late Ponzi schemer J. David Dominelli had put money into Yuba.