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Settlement reached in NM pay-to-play case

July 15, 2013 • State News

SANTA FE, N.M. (AP) — The state Investment Council has reached a $643,000 settlement with a financial consulting firm that was sued for steering government investment business to political supporters of former Gov. Bill Richardson.

Council spokesman Charlie Wollmann said Monday that the defunct Dallas-based firm Aldus Equity Partners and three of its officials agreed to pay the money. They also will cooperate with agency efforts to recover damages or losses from investments allegedly awarded because of political pressures.

The proposed settlement must be approved by a state court.

Aldus advised the council on making some investments, Login to read more

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