SEC Investigates NM Pay-For-Play Claims

Law360, New York (January 16, 2009, 12:00 AM EST) -- The U.S. Securities and Exchange Commission is investigating defendants in a whistleblower suit brought by a former New Mexico official claiming political pressure led to a loss of about $90 million in state funds in a mortgage-backed securities scheme, according to documents recently unsealed by the court.

In a letter made public Thursday by the County of Santa Fe First Judicial District Court, the SEC asked the plaintiff, former state education investment official Frank Foy, to provide the agency with “all documents related to investments by...
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