I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
An investment advisor who did work for the state of New Mexico has pleaded guilty to felony security fraud violations related to a kickback scheme in New York, the Office of New York Attorney General Andrew Cuomo announced earlier…
Both the Albuquerque Journal and the Associated Press are reporting that Marc Correra shared in $22 million in third-party marketer fees, a much larger total than the $16 million previously reported.
Texas-based Aldus Equity, New Mexico’s former investment adviser, appears to have drawn the interest of federal prosecutors, according to two federal subpoenas that have been made public. The subpoenas were released by the Educational Retirement Board Thursday afternoon.
The Educational Retirement Board has just released the two subpoenas it received from the U.S. Attorney’s Office.
Frank Foy on Tuesday added a Texas-based firm that caused New Mexico teachers’ pension funds to be indirectly invested in what some are calling one of the largest Ponzi schemes in history.
The New Mexico Educational Retirement Board has received two grand jury subpoenas, the agency acknowledged Friday. The acknowledgment came in a letter in which the agency denied a request by the Independent to get a copy of any subpoena sent to the agency by the U.S. Attorney’s office.
“The strongest in the nation and appropriately so” is how Gov. Bill Richardson described yesterday’s ban by the State Investment Council (SIC) of future investments with companies that employ third-party marketers to help them win government contracts.
New Mexico Attorney General Gary King has joined a national task force that is investigating the third-party marketer scandal that is spreading across the nation.
Attorneys general in more than 30 states have joined the task…
The counsel for the state’s Educational Retirement Board confirmed Friday afternoon that his agency has received a subpoena from the U.S. Attorney’s Office for New Mexico. Schatzman’s confirmation comes a day after it was reported that federal prosecutors had subpoenaed documents from the State Investment Council related to investments.
Angry legislators publicly thrashed the state’s investments officers Tuesday, in particular demanding to know why no one had noticed the millions of dollars in finders’ fees that were paid to a politically connected individual involved in certain state investments.
It seems there’s a scandal popping up every other day in New Mexico. And state Sen. John Arthur Smith, D-Deming, has had enough.
“As an elected official here, I am embarrassed to serve in New Mexico,” Smith told a roomful…
Third-party marketers, until recently, were obscure figures in the investment world who acted as matchmakers between private equity and hedge funds and states looking for a good return on their money. But now as a scandal that originated in New York has spread to New Mexico, those players and what they were paid have come under increasing public scrutiny.
Gov. Bill Richardson agreed Monday to an independent review of the state’s investment practices and policies, including the use of third-party marketers, his office said.
In a 180-degree turnabout, the governor also agreed to talk about changing the makeup of…
The attorneys general of New York and New Mexico have been in touch about the possibility of expanding the investigation of a pension scandal in New York to include dealings in New Mexico.
A founder of Aldus Equity who was charged with a felony in New York on Thursday faces allegations that, in exchange for increased business in that state, he helped the son of the New York state comptroller…
Gov. Bill Richardson took the extraordinary step Thursday of banning the use of third-party agents in some state investments, a controversial practice that has burst into the spotlight as names involved in a New York investment scandal have popped up here.
Gov. Bill Richardson on Wednesday instructed State Investment Officer Gary Bland to initiate termination of SIC’s private equity advisor Aldus Equity Partners’ relationship with the state.
The decision comes after the FBI has questioned officials from two…
The FBI has questioned officials from two state investment agencies about Aldus Equity, a firm that does business with the state and is involved in a pay-to-play scandal in New York, The Associated Press is reporting.
The State Investment Council (SIC) has suspended a contract with a financial adviser because of questions about a third-party marketer the company employed who has been indicted in a corruption scandal in New York.
