The New Mexico Supreme Court will not intervene in settlement agreements that pave the way for the state to recover $1.3 million in connection politically influenced investment deals dating back to the administration of former Gov. Bill Richardson.
New Mexico State Investment Council spokesman Charles Wollmann said Monday that a flurry of recent actions from the Supreme Court mark significant progress in the state's efforts to hold accountable people who profited improperly from state investments.
The court orders represent a setback for former state pension fund officer turned whistleblower Frank Foy in his fight with the State Investment Council over its handling of settlements with investment firms that paid their way into managing state funds.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.