18 Lawsuits Remain Pending From Richardson Pay-to-Play Era of Corruption

Bill Richardson

Albuquerque Journal - So far, the SIC has recovered a total of $394,000 in settlements with two investment firms. The SIC, which manages the state’s two largest trust funds, also has a pending lawsuit against 18 defendants, alleging it and taxpayers were the victims of a pay-to-play scheme in the making of agency investments. The SIC, in response to subpoenas, has turned over millions of documents to the U.S. Justice Department and the Securities and Exchange Commission. Meanwhile, neither the Justice Department nor a state prosecutor, including state Attorney General Gary King, has charged anyone with a crime. Saul Meyer, a former adviser to the State Investment Council and the Educational Retirement Board, has admitted he recommended investments pushed by politically connected people, knowing that they or their associates would benefit financially or politically. Read full story here (subscription required): News New Mexico

18 Lawsuits Remain Pending From Richardson Pay-to-Play Era of Corruption