Scandals may intersect in payments to Correra
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Gov. Bill Richardson’s administration is currently facing so many scandals and controversies related to financial deals that you had to know, at some point, some of them might intersect. That may have happened in the instance of Marc Correra, the son of a close friend of Richardson. We already knew that Correra shared in more than $11 million in finders’ fees as a third-party marketer for financial companies that won business with the State Investment Council (SIC), thanks to a document the SIC released last month. Now, as reported by the Associated Press and Albuquerque Journal, the New Mexico Educational Retirement Board (ERB) has released its own document detailing finders’ fees paid to third-party marketers by companies that won business with the ERB. The document indicates that Correra shared in as much as another $4.2 million in finders’ fees that came from contracts with the ERB, according to the AP. Continue Reading