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 [...]
A “culture of complacency” prevailed inside the New Mexico Finance Authoritt, the New Mexico Securities Division concluded in its in-depth report on the controversy surrounding the agency’s forged 2011 audit. Internal controls inside the New Mexico Finance Authority began breaking down almost a year before the agency announced publicly that its 2011 audit had been forged. [...]
Rick May is gone as the chief executive officer at the New Mexico Finance Authority (NMFA) but with a possible lawsuit in the offing, his dealings with the quasi-governmental entity may be far from over.
The NMFA Board on Friday (Sept. 28) decided to terminate May’s employment with William Fulginiti being the only member of the [...]
The sky hasn’t fallen, but the chips have been settling back to earth in the fake audit scandal that has wracked the New Mexico Finance Authority.
Predictions of impending financial apocalypse for public works funding in New Mexico have proven overblown. The State’s credit rating is being scrutinized on Wall Street, but has remained unchanged. Some [...]
Authorities went 1-for-2 in their criminal investigation into the NMFA.
Capitol Report New Mexico has learned the suspended chief operating officer at the New Mexico Finance Authority was cleared by a grand jury on criminal charges that he, in the words of the state securities division chief, “cooked the books” in a scandal alleging that [...]
NMFA Board meeting, 9/10/12
For now, the New Mexico Finance Authority (NMFA) still has two chief executive officers — one who is working at the agency rocked by a fraudulent audit and another who isn’t. But both are getting paid.
On Monday (Sept. 10), the NMFA board put off deciding what to with Rick May, the CEO [...]
The chief executive officer at the New Mexico Finance Authority (NMFA) isn’t going down without a fight.
On Monday (Sept. 10), members of the NMFA board are meeting in Santa Fe to discuss the employment status of Rick May and on Friday (Sept. 7), May sent a memo to the board asking them to postpone any [...]
A review of Federal Election Commission records by Capitol Report New Mexico that looked at the hundreds of contributors to the expensive and hard-fought race for the US Senate seat in New Mexico shows a wide range of people willing to fork over cash to Democrat Martin Heinrich and Republican Heather Wilson.
How wide? We’re talking [...]
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 [...]
Well, you can give Greg Campbell credit for this: At least he’s not lawyering up.
The man at the center of the controversy over a fake audit at the New Mexico Finance Authority (NMFA) that could cost taxpayers millions in higher interest rate charges should ratings agencies downgrade the state’s bond rating bonded out of jail [...]