Government entities be warned: Fail to submit an audit to the state and say good-bye to some of that state money you want.
In Part 1 of our investigation into agencies, school districts, communities and other entities that haven’t turned in proper audits of taxpayer dollars they’ve received or spent, New Mexico Watchdog focused on the [...]

Officials at the New Mexico Finance Authority can finally breathe a sign of relief — and so can taxpayers.
On Wednesday (March 27), the Wall Street ratings firm Moody’s announced it was no longer keeping the state’s bond rating under review in the wake of a scandal that broke last summer that saw an NMFA employee file [...]

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.  [...]

Greg Campbell – the man described as a rogue employee this past summer when news of a faked audit at the New Mexico Finance Authority (NMFA) caused a scandal that shook up Wall Street ratings agencies — was sentenced to five years of probation on Thursday (Nov. 30) after pleading guilty to three felony charges [...]

Even though a crucial report from the State Auditor’s Office is still pending, the New Mexico Finance Authority appears to be regaining its financial footing after a fake audit plunged the NMFA into a scandal that led to criminal charges, the dismissal of its chief executive officer and jeopardized the state’s bond ratings.
“I do feel [...]

In little less than a month, New Mexico taxpayers as well as financial experts will get their first look at what the heck happened at the New Mexico Finance Authority (NMFA) when a fraudulent audit plunged the agency into one of the biggest financial controversies in state history.
State auditor Hector Balderas told members of the [...]

State Rep. Sheryl Williams Stapleton (D-Albuquerque) says other heads should roll in the investigation and pending prosecution connected to the New Mexico Finance Authority’s fraudulent audit that has put the state’s bond ratings into question.
“I think the brother has taken the hit for everyone above him and I think that is so unfair,” Rep. [...]

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 [...]