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Senate panel looking into investment scandal
Posted: 01.21.2010 at 6:23 PM
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(AP) -- SANTA FE, N.M. (AP) -A Senate committee is looking into allegations that state agencies are stonewalling a whistleblower lawsuit that seeks to recover money from failed public investments.

The Senate Judiciary Committee on Thursday agreed to ask the State Investment Council, the Educational Retirement Board and the Risk Management Division to provide contracts for lawyers hired to defend state officials named in the lawsuit.

The committee also wants the agencies to explain how they're handling public records requests for e-mail and other documents related to the lawsuit.

Former educational pension fund investment officer Frank Foy filed the lawsuit alleging that political considerations improperly influenced investment decisions.

Foy told lawmakers that agencies are hampering the lawsuit. A spokesman for the Investment Council disputed that in an interview with The Associated Press.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

(Copyright ©2010 by The Associated Press. All Rights Reserved.)

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