New Mexico Sues Former Pension Chief in Pay-to-Play Scandal
Less than a month after New York’s former comptroller was put in prison for a corruption scheme involving the New York Common Retirement Fund, New Mexico’s pension system filed two lawsuits, one in federal court and the other in state court, seeking damages and restitution from its own pay-to-play scandal. New Mexico’s scandal allegedly involves the state’s former pension chief as well as close associates of former Gov. Bill Richardson. In addition, the suits name many of the same people implicated or found guilty in the New York scheme. The federal suit targets defendants living outside New Mexico, while the state case is aimed at defendants in the state, according to sister magazine Buyouts. Both suits were filed by the New Mexico State Investment Council, which manages $15 billion in pension funds.
