BREAKING: NM Finance Authority Officials Arrested for Fraud, Racketeering

Greg Campbell, the former controller of the embattled New Mexico Finance Authority, and John Duff, its current chief operating officer, were arrested, each on several counts of fraud and racketeering.

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Here's the lowdown, in a presser from the NM Regulation & Licensing Dept. (The photo accompanying this post is of Daniel Tanaka, the RLD's Securities Division director.)

Last week, the RLD's Securities Division obtained a warrant to search NMFA offices; read the search warrant affidavit along with the criminal complaint (be warned: it's long) below.

Daniel S Tanaka, the Securities Division director, says in the press release that the investigation is ongoing. According to a criminal complaint filed in First Judicial District Court, Campbell admitted to forging NMFA's 2011 audit report. The complaint goes on to allege that Campbell--with Duff's permission--"misrepresented approximately $40 million in the financial statements for NMFA for 2010 and 2011," according to the press release.

More from the press release:

Affidavit for the warrant and criminal complaint:

Santa Fe Reporter

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