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Whistleblower asks for two SIC members to recuse themselves

Frank Foy and his attorney spiced up the monthly meeting of the State Investment Council (SIC) on Tuesday (Feb. 22) by calling for the recusals of two SIC members, claiming they each have conflicts of...

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SIC member contributed $15,632 to Bill Richardson, not $3,000

Douglas M. Brown, SIC Public Member As we reported earlier this week, a former state investment officer who has filed lawsuits claiming $240 million in losses to the state due to what he says were “pay...

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The state’s small business agency has lost $9 million; is this a big deal?

Chances are you’ve never heard of the New Mexico Small Business Investment Corporation (SBIC). But back in 2001, the state legislature OK’d a plan that sends 1 percent of the Severance Tax Permanent...

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Allegations of multiple conflicts of interest in “pay to play” case; state AG...

Taxpayers angry and alarmed at allegations of “pay to play” schemes at the State Investment Council (SIC) that cost the agency — which handles more than $15 billion in state assets — millions of...

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“You’re not in kindergarten anymore”— Tense moments in committee looking at...

George Muñoz had had enough. After an attorney for the State Investement Council (SIC) challenged a lawyer who’s been a harsh critic of the council to accept an envelope filled with documents in the...

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“Eli” cuts a check to the State Investment Council

The State Investment Council hasn’t received much for its investments in movie projects, but at Tuesday’s SIC meeting (Sept. 27), officials announced the council has received $394,000 in what’s called...

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Pay to play: Read the Aldus Equity transcripts for yourself

Attorney Victor Marshall plays audio of secret recording from Aldus Equity meeting to the State Investment Council, 1/24/12 They sound like scenes from a gangster movie but it’s not Edward G. Robinson...

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NM’s private equity scorecard: 19 of 28 funds in the red

State Investment Council meeting, 5/22/12 The internal rate of return on the 28 private equity investments made on behalf of the New Mexico State Investment Council (SIC) is at minus 4.4 percent —...

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