NM Senate Approves Special Counsel To Investigate Investments

New Mexico – The attorney general could hire an independent counsel to try to recover state investment losses under a bill approved by the Senate.

The independent counsel also could investigate any possible improprieties in the management of public investment funds.

The Senate unanimously approved the proposal on Tuesday and sent it to the House with little time left in the session. The Legislature adjourns on Thursday.

A former state worker has filed a whistleblower lawsuit to recover damages for the state because of $90 million in failed investments.

The legislation by Senate President Pro Tem Tim Jennings, a Roswell Democrat, earmarks $400,000 from the state's investment and pension funds to pay for the proposed independent counsel.

Copyright 2010 The Associated Press.