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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]