“I may be incompetent, but I’m not a criminal,” Rick May blurted out shortly before the the New Mexico Finance Authority Board (August 9) placed him on paid leave .  He was obviously emotional and under great stress. One could not help but feel compassion for a man caught in a tightening vise not completely [...]

The CEO of the New Mexico Finance Authority misled the NMFA Board in reporting on what has now been revealed to have been a fake 2011 audit. May’s misleading statement to the Board surfaced in the affidavit for search warrant executed this week on the NMFA by New Mexico Securities Division agents. While May has [...]

We received an e-mail from a man who enjoys sleuthing with computers.  He dug into the metadata of the fake New Mexico Finance Authority audit.  Sans his identity, we share what he unearthed.  Maybe another reader can advance his work another step:
Saw your recent articles about the NMFA fake audit and thought I would
pass along [...]

Daniel Tanaka, Director of the Securities Division for the New Mexico Regulation and Licensing Department, says his office has “no higher priority” than
investigating the forged audit of the New Mexico Finance Authority’s 2011 fiscal year.  He would neither confirm nor deny that his investigators have interviewed Greg Campbell, the former NMFA controller who is being [...]

The man at the center of the fake audit controversy swirling around the New Mexico Finance Authority has made his first public statements.  He directly contradicts NMFA management while insisting he acted in good faith.  He acknowledges no responsibility for committing any forgery, and limits his actions to failing to inform his superiors that the [...]

Some of it was done with Wite-out and a typewriter.  Some of the forgery was so sloppy it jumps off the page.  And all of the current crisis in New Mexico’s bond financing would have been avoided had management at the New Mexico Finance Authority read their own audit cover to cover.
Eyeballing NMFA’s Fake 2011 [...]

Reuters is reporting that the credit rating agency Standard & Poor’s has put senior and subordinate-lien debt on Creditwatch with negative implications.  The story is linked here.  The move comes as the result of revelations that the 2011 audit the New Mexico Finance Authority provided to credit rating agencies and investors was forged.  S&P cites [...]

Senator Mary Kay Papen, D-Las Cruces, and Representative Patricia A. Lundstrom, D-Gallup, co-chairs of the Legislature’s New Mexico Finance Authority Oversight Committee, urged the New Mexico Finance Authority Board to affirm the decision to hire outside legal counsel to investigate the “fake” audit for NMFA’s 2011 fiscal year, according to a report by the Las [...]

The NMFA told us their former controller had moved out of state after resigning from his post and could not be located.  But we found Greg Campbell’s fully furnished house in Albuquerque. And we’ve begun to fill in the picture of the man being blamed for a growing scandal in the agency that manages billions [...]

An emergency meeting of the board at the New Mexico Finance Authority (NMFA) on Monday (July 16) didn’t provide many answers to: 1) how far off the numbers are after the agency ended up submitting a fraudulent audit to the State Auditor’s Office, 2) if the bogus document was solely the work of one rogue [...]