New Mexico State Investment Council has filed lawsuits accusing several individuals and a partnership for their role in “pay-to-play” and kickback schemes involving the council between 2003 to 2009. The council is seeking monetary damages and recovery of ill-gotten gains acquired by the defendants at the expense of the New Mexico Permanent Funds.
The complaints have named former State Investment Officer, Gary Bland, 14 other individuals along with Renaissance Private Equity Partners, formerly Aldus Equity Partners, adds Business Journal. Bland has been accused of making alternative investments pushed on him by politically connected individuals.
Click here for the release from New Mexico State Investment Council.
Click here for the additional coverage from Business Journal.
