By Rob Nikolewski │ New Mexico Watchdog
SANTA FE – New Mexico increased its production of oil reserves by nearly 24 percent by the end of 2011, making it the sixth most oil-rich state in the nation.
But New Mexico actually dropped one spot in the United States because Oklahoma increased production by a whopping 41.3 percent, [...]
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 [...]
Unraveling the mess at the New Mexico Finance Authority is going to take time but the new interim boss at the authority thinks the biggest issue surrounding the fallout from a fraudulent audit — keeping Wall Street ratings agencies from downgrading the state’s bond ratings — can be avoided.
“I think the basic financial structure that’s [...]
The NMFA controversy is now officially a criminal matter.
On Wednesday morning (Aug. 8th) officers with the state Securities Division arrested the chief operating officer, John T. Duff, of the New Mexico Finance Authority and a former controller at the authority, Greg Campbell, accusing them of submitting a forged audit, misrepresenting financial statements and trying to [...]