State Board of Finance Review Uncovers Questionable Trading Activity at State Treasurer's Office

Press Release

State Board of Finance Review Uncovers Questionable Trading Activity at State Treasurer's Office

Governor outraged that trades are being conducted by unqualified staff, repeats demand for Treasurer's resignation

Governor Bill Richardson today announced a review of trading activity at the office of the State Treasurer has revealed questionable trading activity by employees of the Treasurer's Office. According to the review, financial trades are being executed by unqualified staff.

"I am outraged that the Treasurer is allowing unqualified employees to execute the state's critical financial transactions," said Governor Richardson. "There is clearly a crisis of leadership in the Treasurer's office. This
crisis threatens our state's investments and credit rating, and it's another excellent example of why Mr. Vigil should immediately resign."

At the Governor's direction, the Board of Finance has been monitoring daily transactions performed by the Treasurer's Office. Treasurer Robert Vigil was indicted by a federal grand jury on 21 counts of extortion. Vigil
is also facing possible impeachment by the New Mexico Legislature, which will convene in an extraordinary session this Friday at noon.

The Governor serves as the Chair of the Board of Finance, which has an advise and consent relationship with the Treasurer's Office.

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