Today, former Educational Retirement Board Chairman Bruce Malott sued several former state investment officers, alleging a "complex web of corruption" resulting in "illegal payoffs totaling far in excess of...$100 Million."
Neck deep in allegations of ethic violations, Attorney General Gary King channeled Paul Harvey last month by telling reporters "the rest of the story."
Recent testimony at the Roundhouse was the most blunt public statement yet by former Educational Retirement Board Chief Investment Officerfrank foy. Foy has filed two lawsuits alleging appointees of Gov. Bill Richardson had pressured him to make bad investments that benefited Richardson’s campaign contributors.
Law firms in Albuquerque, New York City and Washington, DC have joined to file a class-action lawsuit against former New Mexico Investment Officer Gary Bland and members of the Educational Retirement Board who participated in alleged pay-to-play schemes involving two out of state firms, Vanderbilt Capital and Aldus Equity.
Play to Pay in New Mexico. It’s a story with a wide cast of coast-to-coast characters—financiers, politicians, whistle-blowers and federal investigators. The details are immense, but the bottom line is clear: Political corruption—of the perceived, alleged and verified variety—is rampant in New Mexico.