Criminal allegations in NM behavioral health system no surprise to one advocate

By Rob Nikolewski on August 23, 2013

By Rob Nikolewski │ New Mexico Watchdog
SANTA FE – As the controversy continues over allegations of $36 million in potential misuse of funds, a former Green Party candidate for statewide and national office said she has a sense of déjà vu.
“I haven’t read the audit” of the providers in question, “but I do have concerns [...]

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Senate Democrats want Attorney General to weigh in on capital outlay flap

By Rob Nikolewski on July 12, 2013

The battle over capital outlay projects continues.
New Mexico Watchdog has learned that 11 Democrats in the state Senate have sent a letter to Attorney General Gary King asking his office to offer an opinion on an executive order that Republican Gov. Susana Martinez signed in early May.
In an attempt to get communities and entities that have [...]

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Part 2 of NM’s audit crisis: No paperwork? Then you get no capital outlay goodies

By Rob Nikolewski on May 13, 2013

Government entities be warned: Fail to submit an audit to the state and say good-bye to some of that state money you want.
In Part 1 of our investigation into agencies, school districts, communities and other entities that haven’t turned in proper audits of taxpayer dollars they’ve received or spent, New Mexico Watchdog focused on the [...]

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No money missing at NMFA but plenty of blame to go around UPDATE: Rick May responds

By Rob Nikolewski on December 14, 2012

It looks like there was plenty of blame to go around at the New Mexico Finance Authority (NMFA) but at least there doesn’t appear to be any money missing.
That’s the upshot of a long-awaited report from the State Auditor’s Office released Friday (Dec. 14) in Santa Fe looking into how and why a faked audit [...]

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NMFA seems to be rebounding as State Auditor’s report looms

By Rob Nikolewski on November 16, 2012

Even though a crucial report from the State Auditor’s Office is still pending, the New Mexico Finance Authority appears to be regaining its financial footing after a fake audit plunged the NMFA into a scandal that led to criminal charges, the dismissal of its chief executive officer and jeopardized the state’s bond ratings.
“I do feel [...]

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Interim NMFA boss thinks the state’s bond ratings can be saved

By Rob Nikolewski on August 17, 2012

Unraveling the mess at the New Mexico Finance Authority is going to take time but the new interim boss at the authority thinks the biggest issue surrounding the fallout from a fraudulent audit — keeping Wall Street ratings agencies from downgrading the state’s bond ratings — can be avoided.
“I think the basic financial structure that’s [...]

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NM Finance Authority’s CEO put on leave

By Rob Nikolewski on August 9, 2012

The ripple effects of a fraudulent audit at the New Mexico Finance Authority washed over the the agency’s chief executive officer on Thursday (Aug. 9th) when the NMFA board unanimously voted to put Rick May on administrative leave with pay.
“We felt we needed to change the direction of that organization immediately,” board chairwoman Nann Winter [...]

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Fake audit leads to two arrests, including the COO of the NM Finance Authority, for “cooking the books”

By Rob Nikolewski on August 8, 2012

The NMFA controversy is now officially a criminal matter.
On Wednesday morning (Aug. 8th) officers with the state Securities Division arrested the chief operating officer, John T. Duff, of the New Mexico Finance Authority and a former controller at the authority, Greg Campbell, accusing them of submitting a forged audit, misrepresenting financial statements and trying to [...]

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Moody’s gives NM’s Transportation and Cigarette Tax bonds clean bills of health

By Rob Nikolewski on July 27, 2012

Given the uncertainty caused by the fraudulent internal audit at the New Mexico Finance Authority (NMFA), there’s been plenty of anxiety about whether Wall Street ratings agencies such as Moody’s and Standard & Poor’s might downgrade the state’s credit ratings.
New Mexico received a measure of good news late Thursday (July 27) when Moody’s released a [...]

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NMFA moves forward on investigations and projects, but big-ticket items in limbo

By Rob Nikolewski on July 26, 2012

The New Mexico Finance Authority moved forward in its investigations into a bogus internal audit and even approved a number of bond projects in a handful of communities Thursday (July 26) but there’s still a big, $27.2 million project in Albuquerque in limbo.
Board members for the NMFA, trying to recover its bearings after the fake [...]

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