Bruce Malott
The former chairman of New Mexico’s Educational Retirement Board filed a lawsuit on Tuesday seeking damages because of an alleged pay-to-play scheme he says ruined his reputation.
From The Associated Press:
“A former New Mexico pension fund official on Tuesday sued financial firms, an ex-state investment officer and dozens of others for damages because of an alleged pay-to-play scheme over pension program investments.
“The lawsuit by Bruce Malott, former chairman of the state Educational Retirement Board, is the latest in a series of allegations that politically influenced investments generated large fees for supporters and friends of former Democratic Gov. Bill Richardson.
“… Richardson, who served as governor from 2003 through 2010, has not been named as a defendant in the investment lawsuits, including the one brought by Malott.
“… Among the defendants is former state investment officer Gary Bland; Anthony Correra, a friend and political supporter of Richardson; and Marc Correra, his son. The younger Correra shared in nearly $22 million in fees as a third-party placement agent for deals involving the educational pension fund and the Investment Council, according to state records.”
You can read the full article here, and Malott’s lawsuit here.