"The subpoena seeks to discover who contributed to Moving America Forward Foundation (MAFF), a purported nonprofit organization that has been linked to Gov. Richardson and his political campaigns. MAFF has not disclosed its contributors," the press release states.
Specifically, the subpoena demands:
* Names of foundation directors and managers, and copies of any minutes or notes of any meetings.
* Contributions and expenditures, receipts and disbursements, including contributions "discussed but never made."
* All employee records, plus financial or tax records.
* Any contracts in excess of $1,000.
More after the cut.
FOR IMMEDIATE RELEASE JANUARY 29, 2009
Frank Foy subpoenas documents from Moving America Forward Foundation in pay-to-play case.
JANUARY 29, 2009 ALBUQUERQUE NEW MEXICO –
The plaintiff in a civil lawsuit to recover $300 million for the State of New Mexico has subpoenaed documents from the Moving America Forward Foundation, which is linked to Gov. Bill Richardson. The plaintiff, Frank Foy, is the former Chief Investment Officer for the New Mexico Educational Retirement Board. He has filed a civil lawsuit under the Fraud Against Taxpayers Act to recover more than $300 million for the State of New Mexico and the ERB and the State Investment Council (SIC). The ERB lost $40 million – its entire investment in worthless CDOs offered by Vanderbilt Financial and Vanderbilt Capital of Chicago. The SIC also lost its entire investment – $50 million. Under the Fraud Against Taxpayers Act, treble damages could be awarded in favor of the State.
Foy's lawsuit on behalf of the State alleges that these investments were steered to Vanderbilt as part of a “pay to play” scheme at the ERB and the SIC. According to federal election reports, Vanderbilt executives contributed $15,100 to Richardson' presidential campaign.
The subpoena seeks to discover who contributed to Moving America Forward Foundation (MAFF), a purported nonprofit organization that has been linked to Gov. Richardson and his political campaigns. MAFF has not disclosed its contributors. “Because MAFF is shrouded in secrecy, no one knows whether Moving America Forward Foundation was used as a conduit by people who wanted to buy business from the State of New Mexico,” said Victor Marshall, Foy's attorney. Marshall emphasized that it is not yet known whether Vanderbilt or others used MAFF to hide “pay-to-play” contributions. “That is why we need discovery of these documents. It's a normal part of civil litigation like this.” Any party can
have subpoenas issued as part of the discovery process in a civil case.