Bruce Malott

Whistleblower Frank Foy plans to go to court to try and stop the state from defending a former State Investment Officer and at least one public official, his attorney said Tuesday.
“We’re waiting to get hearings,” Victor Marshall said, referring to a legal complaint his client has filed in the 1st Judicial District Court in Santa [...]

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.

The New Mexico General Services Department’s risk management division has paid out $162,000 to defend indviduals named in a whistleblower lawsuit filed a former investment officer for the state Educational Retirement Board.
Frank Foy, the former investment officer, has sued in court over the $90 million the state lost due to a 2006 investment.

Frank Foy’s lawsuit alleging a pay-to-play scheme is an attempt to benefit from the “near collapse” of global financial markets and the resulting “devastation” to some of New Mexico’s investments, says one of the suit’s primary targets, State Investment Council Officer Gary Bland.

Five audits of the state’s affordable housing system conducted by the Albuquerque-based Meyners + Company turned up none of the widespread problems that led to its near total collapse in 2006, a review of public documents reveals

Pauline Turner, who Frank Foy’s attorneys describe as ‘a key witness’ in Foy’s pay-to-play case against the state, says the New Mexico Educational Retirement Board made hasty and risky investment decisions that weren’t understood by some board members. Malott is the embattled ERB chairman.

Former state investment officer Frank Foy has filed a complaint to require the Education Retirement Board to turn over its records, his attorney said Friday morning.
Foy and his attorney, Victor Marshall, filed the complaint on Thursday. Click here (pdf) to read it.

Gov. Bill Richardson refused Tuesday to answer whether he or anyone in his office knew that his brother-in-law had applied to become deputy director of the New Mexico Retiree Health Care Authority.
The agency hired Richardson’s brother-in-law Bill Walsh last fall to a post that pays $85,000.
When asked, the governor threw up his hands and remained [...]

Gov. Bill Richardson refused Friday to answer whether he or anyone in his administration had sent the message out for state agencies to hire Albuquerque-based Meyners + Company to do auditing work.

State records show that Bruce Malott’s auditing firm has won nearly $7.8 million in public auditing contracts since Bill Richardson became governor, compared to $274,000 in the five years prior. Long before Malott won high-level appointments from the governor, he also served as his campaign treasurer.

Dave Contarino says an allegation that he ordered other officials to make state investments in exchange for a little more than $15,000 in contributions to Gov. Bill Richardson’s 2008 presidential campaign is “a flat out lie.”

A former state investment officer on Tuesday named David Contarino as the state government official who exerted pressure to award contracts and make investments that would reward political campaign contributors of Gov. Bill Richardson.

A former investment officer at a state board came forward Wednesday to allege that he had been pressured to award contracts and make investments that would reward political campaign contributors of Gov. Bill Richardson.