Regional
7:58 am
Thu July 28, 2011

Whistleblower Wants NM Investment Officials Ousted

New Mexico – SANTA FE, N.M. (KRWG) A former pension fund official behind a whistleblower lawsuit is calling for the resignations of state pension and investment officials because of their ties to former Democratic Gov. Bill Richardson.

Frank Foy told a legislative committee on Wednesday the resignations of investment fund officials will help restore New Mexico's reputation in the investment community because of allegations that political considerations influenced investment decisions during the Richardson administration.

Foy is the former chief investment officer of the state's educational pension fund and has filed a lawsuit to recover investment money for the state.

He called for the resignations of State Investment Officer Steve Moise, State Investment Council member Doug Brown and Educational Retirement Board executive director Jan Goodwin.

Several legislators defended investment managers and chided Foy for making personal attacks.

Copyright 2011 The Associated Press. KRWG