Judge backs New Mexico settlement in pay-to-play deals
SANTA FE, N.M. (AP) — New Mexico Attorney General Hector Balderas says a district court judge has approved settlements that allow the state to recover $24.5 million in connection with politically influenced investment deals.
The Attorney General’s Office confirmed Thursday approval of the settlement with Vanderbilt Capital Advisers and Austin Capital Management. Judge Louis McDonald dismissed rival claims on behalf of the state by former state pension fund officer Frank Foy.
Foy and attorney Victor Marshall have asserted that they could help New Mexico recover far more money from state investment deals brokered during the administration of Gov. Bill Richardson.
The Attorney General’s Office has argued the state was in a better position than Foy to recover funds, limit legal fees and avoid costly delays.
Read more: http://rdrnews.com/wordpress/blog/2017/06/08/judge-backs-new-mexico-settlement-in-pay-to-play-deals/