Montoya pleads guilty to state racketeering charge

Former state Treasurer Michael Montoya pleaded guilty today to one state charge of racketeering for his role in the scandal that rocked the treasurer’s office several years ago.

In exchange, 15 other counts were dropped.

The state charges were brought by former Attorney General Patricia Madrid after Montoya testified in the federal case against former Treasurer Robert Vigil last year as part of his plea bargain on the federal charges.

Madrid was criticized at the time for indicting Montoya and three others based on their federal testimony. Federal prosecutors said that affected their ability to retry Vigil after his first trial ended with a hung jury.

The plea deal in the state case was announced today by current Attorney General Gary King. Montoya, who was treasurer from 1995 to 2002, will be sentenced in the state case on Nov. 1 and faces a maximum of nine years in prison. He’s scheduled to be sentenced in the federal case next month.

“I am pleased about today’s conclusion in this case. We think it is a positive result for the state of New Mexico,” King said in a news release. “I believe this will help to restore public confidence in state government and send the message that my office will continue to pursue whatever actions are necessary to protect the public trust.”

As part of the agreement, Montoya agreed to testify against investment advisor Kent Nelson and businessmen Angelo Garcia and Leo Sandoval, who have all been convicted in the federal case. Their state trials set for later this year.

Here’s the plea agreement:

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