Showing posts with label "Marc Correra". Show all posts
Showing posts with label "Marc Correra". Show all posts

Tuesday, May 10, 2011

The Official No-Comment

I ran into former Gov. Bill Richardson about an hour ago. He was in the Capitol TV studio for some appearance on a national news program.

Naturally I asked if he had any comment on the recent law suits against former State Investment Officer Gary Bland, Guy Riordan, Anthony and Marc Correra, etc.

Naturally, he said he didn't have a comment.

Wednesday, January 12, 2011

Roundhouse Roundup: Lawyers Doing Their Jobs

A version of this was published in The Santa Fe New Mexican
January 13, 2011


Albuquerque lawyer Sam Bregman, who is challenging incumbent Javier Gonzales for the chairmanship of the state Democratic Party, has been in the news a lot in recent years.

Bregman, a former Albuquerque City Councilor, has been something of a go-to lawyer for Democrats in trouble. While I haven’t seen any public statements about this from Gonzales or the other candidate, Letitia Montoya, behind the scenes some Democrats are saying some of his controversial clients are baggage for Bregman.

I couldn’t get Bregman on the phone Wednesday. But in a recent video interview with Albuquerque blogger/journalist Peter St. Cyr, Bregman said, “I’m a lawyer doing my job. For someone to be that shortsighted is really silly.”

He’s right. He is a lawyer doing his job, and it’s unfair to judge a lawyer by his clients. All defendants, whether an accused murderer, or, say, a state treasurer accused of seeking bribes, deserve a good defender.

However, Bregman apparently didn’t feel that way when he was running for mayor of Albuquerque in 1997.
At the time, he was a prosecutor with the district attorney’s office. One of his opponents was former Gov. David Cargo, also a lawyer.

In August 1997, according to articles in The Albuquerque Tribune, Bregman said, “Going on four years now, I’ve gone into the courthouse trying to seek justice for victims and their families and trying to put criminals behind bars.

“Dave Cargo has spent that same time walking into the courthouse trying to keep criminals on the street. Dave Cargo has stood up for people who peddle drugs to our children, people who abuse our children, people who assault our police officers.”

To his credit, a couple of days after the controversy broke over his remarks, Bregman walked back a little, telling The Tribune, “Perhaps my comments were not in the appropriate context and perhaps the rhetoric was a little strong. ... I do not for one minute want to imply that defense attorneys do not have a very valuable place in our criminal justice system. I am certainly very supportive of a person’s right to have an attorney.”

Neither Bregman nor Cargo won that race. Jim Baca did.

Among Bregman’s most high-profile clients in recent years:

* Former state Treasurer Robert Vigil was facing multiple federal charges related to a kickback scheme involving state contractors. After two trials, Vigil was convicted of one count of attempted extortion but acquitted by a jury of 23 other extortion and racketeering charges. Vigil served 32 months in federal prison.

* Roberta Vigil, a former West Las Vegas school administrator — and related by marriage to the former treasurer — was convicted on state charges of fraud and conspiracy. She received three years of probation and was ordered to repay $13,856 in bilingual education funds to the school district.

* Marc Correra has not been charged with any crimes, but he was at the center of a state investment scandal. Between 2003 and 2008, Correra — whose father was close to then-Gov. Bill Richardson — shared in nearly $22 million in fees as a third-party placement agent to help money-management firms win investments with the State Investment Council and a state educational pension fund. Bregman represented Correra before the state Gaming Control Board when the broker was part of a team trying to start a race track and casino in Raton.

* Bruce Malott, the former chairman of New Mexico’s Educational Retirement Board, resigned in September over a questionable $350,000 loan from Anthony Correra (Marc Correra’s father). Malott has not been charged with any crime but has been named in civil suits, including those filed by Frank Foy, former cheif investment officer of the ERB.

* Alfred Lovato, a former state police guard of Richardson, was in the car driven by politically-connected lawyer Carlos Fierro when Fierro struck and killed pedestrian William Tenorio in Nov. 2008. Lovato initially was charged with vehicular homicide and leaving the scene of a fatal accident. But Bregman persuaded state District Judge Michael Vigil to drop the charges.

UPDATE 9:15 a.m.: The initial version of this column listed the wrong position for Frank Foy. That has been corrected.

Thursday, September 2, 2010

Denish to Donate Malott Money to Charity -- But Not $$ from Mallot's Company

A version of this was published in The Santa Fe New Mexican
September 3, 2010


The day after Bruce Malott, the chairman of New Mexico’s educational pension fund, resigned over a questionable $350,000 loan, Democratic gubernatorial candidate Diane Denish’s campaign announced it was donating to a charity more than $4,000 in campaign contributions from Malott — whose company once kept the books for the Denish campaign.
Bruce Malott
“In light of today’s revelation, the campaign immediately donated donations from Mr. Malott to a New Mexico nonprofit that supports our early-childhood education professionals,” Denish spokesman Chris Cervini said in an e-mail Thursday. “It was the right thing to do.”

However, records kept by the Institute on Money in State Government show that in addition to Malott’s personal donations, his company, the accounting firm of Meyners & Co., gave Denish $8,750 since 2007.

Malott and his business also have contributed $4,500 to the campaign of Denish’s running mate, Brian Colón.

Asked about the extra thousands from Meyners, Cervini said, “We saw it more of an issue with Mr. Malott than with his company.”

Cervini acknowledged that Malott’s firm served as treasurer of the Denish campaign until this spring.

“The campaign switched treasurers several months ago for a number of considerations, including our concerns about the use (of) state funds for Mr. Malott’s legal defense,” Cervini said in his e-mail. Malott’s firm was listed as campaign treasurer on Denish’s October campaign finance report. But the next report, filed in April, indicated another company was doing the books.

The state paid at least $300,000 in legal bills for a private lawyer Malott hired to represent him in lawsuits over failed investments and a pending federal investigation into public investments. A state-appointed attorney also is defending Malott in the lawsuits. Several legislators have criticized the plan for state money to be used to pay private lawyers in the investment scandals.

Malott’s resignation from the Educational Retirement Board was reported Thursday in a copyrighted story by the Albuquerque Journal. The report said he stepped down after an interview concerning the loan from Anthony Correra, a friend and financial backer of Gov. Bill Richardson. Correra’s son, Marc Correra, shared in millions of dollars in finder’s fees from investments by the ERB and the State Investment Council.
Diane Denish
Malott, an Albuquerque accountant, told the Journal he borrowed the money in August 2006 to pay federal and state taxes owed because of a tax-shelter dispute with the Internal Revenue Service.

Malott said that at the time of the loan he was unaware that Marc Correra had been receiving fees for helping money-management firms win investments from the pension fund and the SIC, which oversees state endowment funds.

Marc Correra shared in nearly $22 million in fees as a third-party placement agent, according to records of the state investment agencies. His lawyer, Sam Bregman — who also has represented Malott’s company — has said there was no wrongdoing on Marc Correra’s part.

Among the lawsuits in which Malott is involved is one by former Education Retirement Board director Frank Foy, who claims Malott pressured him into approving investments with the Chicago-based Vanderbilt Financial and related companies.

Denish’s opponent, Susana Martinez, was quick to jump on the connection between Denish and Malott.

“… It is clear that the culture of corruption is deeply rooted in the Richardson/Denish Administration and we are finding more conflicts and wrongdoing every day,” Martinez campaign manager Ryan Cangiolosi said in a news release Thursday. “Denish stood by Gov. Richardson’s side and has strong ties with almost all the individuals making headlines for their crooked deals, which have held New Mexico back. New Mexicans have a right to know who else in the Richardson/Denish Administration and their boards had financial interests in these taxpayer-funded deals.”

State records show Malott’s company was paid more than $10 million by the state for auditing services between the fiscal years of 2001 and 2006, according to records obtained last year by The New Mexican.

Meyners currently has 21 auditing contracts with various state agencies, Antonio Corrales, chief of staff for the state Auditor’s Office, said Thursday. The contracts total more than $2.1 million, Corrales said.

Gilbert Gallegos, a spokesman for Richardson, said Thursday that “the governor was not aware of the loan and he has accepted Mr. Malott’s resignation.”

Malott was initially appointed to the pension fund’s governing board by former Gov. Gary Johnson, a Republican, and he was reappointed by Richardson, a Democrat. Malott and his accounting firm had served as treasurer of Richardson campaign committees.

Malott submitted a terse resignation letter to the governor, saying he was stepping down immediately and he enjoyed being a board member for the past 11 years and appreciated the opportunity to have served during Richardson’s administration.

Anthony Correra served as a director of a nonprofit foundation that Richardson formed to do voter registration ahead of the 2004 presidential election. Malott’s company did the books for that foundation as well.

The elder Correra is a close friend of former state investment officer Gary Bland, who was appointed by Richardson but resigned last year amid a federal grand jury and Securities and Exchange Commission investigation into state investments.

Correra served on a committee that recommended Bland for the investment officer position after Richardson was elected in 2002. Anthony Correra and his investment management firm contributed $27,800 to Richardson’s 2002 campaign for governor.

The Associated Press contributed to this report.

Thursday, October 22, 2009

Find the Correras

Frank Foy, a former investment officer for the Educational Retirement Board who is suing the state, claims in a court filing that Marc Correra -- a third party marketer who made millions in finders fees from state investments -- and his father Anthony Correra -- a political advisor to Gov. Bill Richardson and friend of recently resigned state Investment Officer Gary Bland -- are ducking summons servers in the state.
Have you seen this man? (the one in the center)

That's according to an Associated Press report.
Foy’s lawyer, Victor Marshall, said Thursday the Correras have not been served with a summons about the lawsuit despite efforts to locate them since May.
In a court filing, Marshall said “Marc Correra has disappeared” and apparently has left the country. It also said Anthony Correra’s house in Albuquerque “appears to be deserted” and that “it is not known whether Anthony Correra has left the United States.”
Sam Bregman, a lawyer for Marc Correra, declined to comment on the latest allegations in the lawsuit.
Jason Bowles, a lawyer for Anthony Correra, said his client “is not trying to hide from anything.”
“He is in the country. He has just not been served,” said Bowles.



(The above photo of Marc Correra (center) was taken on May 19 in Albuquerque. I haven't seen him since, but that's not unusual)

The Correras are among 75 or so defendants in Foy's suit, which claims the Ricahrdson administration pressured the ERB and the State Investment Council to reward the governor's political supporters. Richardson's staff has vehemetnly denied wrongdoing.

Tuesday, October 6, 2009

Just When We Thought NM Scandal Season Was Fading ...

Saul Meyer pleaded guilty to corruption charges in New York today. And according to New York Attorney General Andrew Cuomo, his pleas also covers, "fraud in investment transactions relating to public pension funds in New Mexico."

Here's from an Associated Press account:

In a statement, the attorney general's office said Meyer had admitted that on "numerous occasions" while Aldus was acting as an adviser to the New Mexico State Investment Council and the New Mexico Educational Retirement Board, he had steered investment contracts to certain people.

"Aldus recommended proposed investments that were pushed on him by politically connected individuals in New Mexico, knowing that these politically connected individuals or their associates stood to benefit financially or politically from the investments and that the investments were not necessarily in the best economic interest of New Mexico," the statement said
.


Cuomo declined to say who those politically connected people are, so we can't say for sure that one was Marc Correra, who shared in millions of dollars in finders fees from New Mexico investments. Correra's father Anthony Correra is a longtime friends and fund-raiser for Gov. Bill Richardson. Correra's lawyer Sam Bregman has said his client worked hard for his millions and did nothing illegal.

The SIC and EIB fired Aldus after Meyer was indicted in New York state.

Update: Richardson spokesman Gilbert Gallegos released this statement:

“The Governor’s Office is not aware of any activity outlined by the Attorney General of New York. As we have previously explained, Governor Richardson never spoke with Marc Correra about any state investments, and the Governor never had any personal contact with Saul Meyer.”


Marc Correra is the man in the middle.

Tuesday, June 23, 2009

Foy Expands Whisteblower Suit

Former state Educational Retirement Board investment officer Frank Foy has expanded his "pay-to-play" lawsuit to include local investment broker Marc Correra, his father Anthony Correra, former Bill Richardson pal Guy Riordan and several of those involved in the New York investment scandal, including the indicted Hank Morris

Foy has in a lawsuit claimed that former Richardson chief of staff Dave Contarino, State Investment Officer Gary Bland and ERB director Bruce Malott pressured the ERB and SIC to make investments totalling $90 million with a Chicago company called Vanderbilt. The investments went bad -- though Marc Correra made a couple of million in finders fees on the deals.

This new turn of events should be interesting for Albuquerque lawyer Sam Bregman. He represents Malott's accounting firm, named as a defendant in this case, as well as Marc Correra in another matter.

Kate Nash is covering a press conference, which should be strarting about now. Meanwhile, below are the latest filings in the case. (I don't know why it shows an error sign. There should be no trouble downloading or reading the documents):

Corrected Austin Amended Complaint w Exhibits-Errata Corrections Made as FILED

Wednesday, June 17, 2009

Cooper Refuses to Disclose "Charity" Records

Lawyers for "whistleblower" Frank Foy are asking that former deputy Bill Richardson campaign manager Amanda Cooper be held in contempt of court.

In a motion filed yesterday in state district court, Foy claims that Cooper did not turn over records of the Moving America Forward Foundation, which were subpoenaed in February. (Read Kate Nash's original story HERE.)

MAFF, established by Richardson in 2004, was set up with the stated goal of encouraging minority voting. The foundation collected more than $1.7 million, but by law doesn't have to disclose names of contributors.

In case you've lost track in the scandal jungle, Foy, a former investment officer with the state Education Retirement Board, claims that the ERB as well as the State Investment Council was pressured by former Richardson chief of staff and campaign manager Dave Contarino to invest with Vanderbilt Financial, a Chicago-based company.

In a response to that subpoena Cooper's lawyer says (correctly) that MAFF no longer exists, that producing the records would be an "undue burden" for Cooper and that the documents have no relevance to Foy's suit.

However, Foy's lawyer Victor Marshall says in yesterday's motion points out that Anthony Correra was a MAFF director and his son Marc Correra shared in $22 million in finders fees from Vanderbilt for landing investment deals with the Educational Retirement Board and the State Investment Council.

I haven't tried contacting Cooper yet today. Since the beginning of the year she has not returned calls from me. When I ran into her at a Democratic Party function a few weeks ago she told me there are some things she can't talk about. I suspect this might be one of them.

UPDATE: Here's the motion and other documents related to it.

Motion for Contempt & Enforcement of Subpoena Duces Tecum as FILED 6.16.09

FURTHER UPDATE: Way way down in the documents in the above link is a letter from Cooper's lawyer saying , "We are prepared to produce an affidavit from Ms. Cooper confirming that none of the defendants in the case nor any person or entity mentioned in the complaint ever made any contribution to MAFF."

Full disclosure: Lawyer Marshall has worked for The New Mexican.

Tuesday, June 9, 2009

Correra Out of Raton Racetrack

Marc Correra, the Santa Fe investment broker at the center of a recent state investment controversy has withdrawn as a partner in the planned racetrack in Raton.

This just in from the Associated Press:

The state Gaming Control Board has authorized a casino license for a proposed racetrack in the northeastern New Mexico community of Raton. It clears the way for the project to proceed, since the state Racing Commission earlier gave approval for horse racing.

Project manager Michael Moldenhauer says construction activity should begin in the next two weeks.

The board acted after an investor, Marc Correra, said he was withdrawing his application from the project. A news release issued by the Gaming Control Board indicates Correra has decided to focus on other business opportunities.

Board Chairman David Norvell told Moldenhauer the project means a lot to the Raton area and that failure is not an option.


Correra shared in more than $15 million in fees for helping secure business for clients who handled state pension and permanent fund investments. His father Anthony Correra is a contributor to and adviser of Gov. Bill Richardson. Marc Correra's lawyer Sam Bregman has said political connections had nothing to do with his client getting so many fees.

Here's the link to my story about last month's meeting CLICK HERE

UPDATE: Just got a copy of the news release referred to in the Associated Press story. It says the Gaming Control Board received a "communique" from Correra's Chicago attorney saying Correra was withdrawing his application for his "individual finding of suitability in connection with the racetrack/casino application filed by Horse Racing in Raton Limited Partnership."

"Mr. Correra has decided to focus on other business opportunities currently available to him

"The Board respects Mr. Correra's decision and would like to take this opportunity to express our appreciation for his participation in our licensing process," the news release says. "We compliment him on his professionalism and wish him the very best in his future endeavors."

Lawyer Sam Bregman, Correra and Moldenhauer at last month's Gaming Control Board meeting.

Tuesday, May 26, 2009

SIC Bans 3rd-Party Marketers, Campaign Contributions to Members

Spurred by recent investment scandals in New Mexico, the State Investment Council this morning voted to ban the use of third-party marketers by companies seeking state investment money.

The SIC also voted to adopt a policy that would ban campaign contributions to elected officials or people seeking election to a post that would have influence over state investments. This would prohibit awarding contracts to companies that made contributions for two years before the contract is awarded and would prohibit companies that receive investment contracts to make contributions for two years after the contract is awarded.

One thing that isn't clear: Would this include indirect contributions to political action committees, political parties or non-profits that get involved in elections? SIC staff says they're looking into that.

Also it's not clear whether it involves legislators on oversight committees like the Legislative Finance Committee.

SIC members include elected officials like the governor, the land commissioner and the state treasurer.

These reforms go along with what Gov. Bill Richardson recently recommended. In fact Richardson, who rarely attends these meetings, showed up and made the motion to adopt the policy.

Nobody at the meeting mentioned the name of Marc Correra, son of a major Richardson supporter, who in the past few years has shared in some $15 million as a third-party agent from clients for whom he helped secure state investment money.

Richardson at the meeting said he never knew knew third-party marketers existed and was shocked to learn how much they earn.

Richardson also said he'd support a bill to allow legislators to appoint members of the SIC -- as long as the executive branch kept control of the council. The governor pocket-vetoed a bill that would have increased the number of positions on the SIC and given the Legislature a major voice.

More in The New Mexican later.

Tuesday, May 19, 2009

Correra Stiffs Reporters

Bregman, Correra, Moldenhauer

Marc Correra, who has been at the center of the state investment scandal (and is in the center of the above photo), refused to talk with reporters who showed up to a meeting of the state Gaming Control Board Tuesday. The board was considering the application of a partnership involving Correra to operate a race track and casino in Raton.

Correra spoke not a word and actually turned his back to reporters, who instead verbally sparred with his lawyer, Sam Bregman -- who at one point said we were acting like vultures and said one of my TV reporter colleagues who was asking some questions Correra didn't want to hear, was "acting like an idiot."

We followed Correra and Bregman out to Correra's silver Land Rover. Correra got in the vehicle as Bregman continued talking to reporters.

Correra, who shared in as much as $15 million for steering his clients to deals to invest state funds, is the son of longtime Richardson adviser and contributor Anthony Correra. The younger Correra’s wife once was hired by Richardson as a “protocol officer” for the governor. 

Bregman said Correra didn't get the money because of his political connections. In fact, at one point Bregman denied there were any political connections.

The board tabled action on the applications, requesting more financial information.

I'll post the link to my story in The New Mexican later.

UPDATE: Here's that link.

Thursday, May 14, 2009

Roundhouse Roundup: Hot Potatos and Christmas Hams

A version of this was published in The Santa Fe New Mexican
May 14, 2009


The first "hot potato" returned campaign contribution of the year in New Mexico was reported this week.
Hector Balderas
The campaign organization of State Auditor Hector Balderas late last month returned a $10,000 contribution to Sandia Asset Management, a Santa Fe firm associated with Marc and Anthony Correra. 

Marc Correra is a local investor who has made recent headlines for sharing in $15 million in finders fees as a third-party placement agent, paid by companies awarded contracts to invest state money. His father, Anthony Correra, is a friend, adviser and financial supporter of Gov. Bill Richardson.

"After recent issues concerning this company were brought to his attention, he reviewed his records," Balderas spokeswoman Caroline Buerkle said in an e-mail on Wednesday. "He felt the most appropriate action to take was to promptly return the contribution."

Neither Correra has been charged with any wrongdoing.

In 2006, according to the Institute of Money in State Politics, Sandia Asset Management gave $5,000 to Balderas' campaign. The company also gave $5,000 to Secretary of State Mary Herrera's campaign, plus $1,000 to both Lt. Gov. Diane Denish and unsuccessful attorney general candidate Geno Zamora. In 2002, Sandia Asset Management contributed $15,000 to Gov. Bill Richardson's first gubernatorial campaign — plus $250 to Richardson's Republican opponent that year, John Sanchez. Anthony Correra contributed another $12,832 to Richardson that year under his own name.

Balderas could seek re-election to the auditor's post next year. However, he's been rumored to be considering a run for lieutenant governor.

His campaign finance report says he has $26,651 in the bank. He raised more than $25,000 in the past 12 months and spent more than $20,000 — though nearly half of that was the returned Correra contribution.

Hooters!Who gives a hoot? Lt. Gov. Diane Denish, who could become the state's first female governor, is a hero to many New Mexico feminists. However, she did get a contribution from a place not usually associated with feminism. 

According to her report, on Dec. 4, Denish got a check from Albuquerque Hooters Inc., which operates two restaurants in Duke City.

Maybe she just likes the hamburgers.

More fun with campaign finance reports: Not much pork came out of the state Legislature this year. But a month before the session, some constituents of House Speaker Ben Luján got some ham.

The Committee to Re-elect Ben Luján spent $555 at Zanios Foods on Christmas Eve for "Hams for needy people."

Though none of the Santa Fe-area delegation faced any election opposition in the general or primary election — and some of them, including Luján, haven't had any opponents in several election cycles — most of them maintain healthy campaign treasuries, using campaign contributions to help defray costs associated with legislating.

Here's a quick look at the fundraising and fund-spending of the local delegation.
Speaker Ben Lujan in Denver last August* Speaker Luján: The speaker has $137,201 in the bank. In the last year he raised only $500 — $250 each from Comcast and Blue Cross/Blue Shield — and spent $4,626.

Many of his expenses were charitable donations related to sports and music. The Luján campaign gave $650 to the Pojoaque Valley High Athletic Department, $200 to Pojoaque Valley Youth Basketball team, $200 to Mariachi Sol de Valle, an Española high-school band that played at the Obama inauguration in Washington, D.C., and $200 to the New Mexico Hispano Music Association. Other charitable donations from Luján included $140 to Santo Niño Regional Catholic School and $100 to the American Red Cross.

Luján also contributed $500 to the campaign of Ben Rodefer, a Democrat who won a House seat in Albuquerque.

* Rep. Brian Egolf: The first-term representative reported $17,257 cash on hand. He raised $3,855, including a $500 contribution from local lawyer Donna Lynch.

Egolf spent $31,592. Of that, $13,192 was for a legislative survey conducted by Gold Communications of Valdez, N.M. He also spent $4,505 for computer equipment and $338 for a camera from Best Buy.

Some expenses might reveal some ambition on the part of Santa Fe's freshman representative. He spent $750 on a campaign data base from a Washington, D.C., company and $500 for consulting fees to an outfit called Election in Motions, a local firm specializing in fundraising, which has been used by the state Democratic Party.

Egolf also reported spending $121 at the Dish and Spoon restaurant for a Capital Outlay Committee lunch and $166 at the Mission Cafe for a breakfast for the same committee. Didn't anyone tell him that the lobbyists are supposed to pay for committee meals?

As far as charity goes, Egolf's campaign gave $500 to the Center for Contemporary Arts and $140 to Santo Niño Regional Catholic School.

* Rep. Luciano "Lucky" Varela: He reported $71,844 cash on hand. Varela raised only $67 in the past year and that was interest from his campaign bank account. He spent $2,700 on printing and mailing to constituents during session as well as $4,100 for unspecified constituent services during the session. Varela also donated to charity — $250 to Big Brothers/Big Sisters and $250 to the Annual Catholic Appeal for Youth Program.

* Rep. Jim Trujillo: He reported $3,516 cash on hand and raised $800 — $500 of which came from a title company PAC — and spent $3,483. His biggest expenses were $809 for radio ads and $566 to Best Buy for a mini-laptop computer.

* Sen. Peter Wirth: Wirth's campaign has $49,723 in the bank. He raised $300 ($250 of which was from a physical therapists PAC) and spent $11,492. His biggest expense was $6,515 on mailing services to constituents.

* Sen. Nancy Rodriguez: Rodriguez reported $10,641 cash on hand. She raised $1,250 — $1,000 from the New Mexico Realtors Association and $250 from a physical therapists PAC. Rodriguez reported no expenditures. But the campaign does have an unpaid debt of $9,352. The report doesn't specify to whom she owes the money.

(Here's the link to the Secretary of State's Web site. Warning: It might help if you have a degree in forensic computer scuience to navigate this site. Here's one hint - once you get the link to a candidate's reports on your screen, click on the most recent year. In most cases, at least, it won't say 2009.)

Friday, May 8, 2009

Friday Morning Fun

TPM Muckrucker connects some Marc Correra dots in this article.

It talks about Lori Schiaffino, a placement agent who who helped a hedge fund called Optima get a $50 million investment from the New Mexico Educational Retirement Board.



Correra and Schiaffino have something in common: they have both worked as agents for a placement agency called Diamond Edge Capital, which is run by Marvin Rosen, a former finance director for the Democratic National Committee and Clinton campaign co-finance chair in Florida in 1992. ... If Rosen sounds familiar, it's because he was one of the key figures involved in promoting sleepovers in the Lincoln bedroom for top campaign contributors in the nineties.
Rosen is chairman of a business called Diamond Edge. Of Diamond Edge, the Muckrucker article says, "Records show the firm booked at least $3.25 million on four New York pension fund investments in 2005 and 2006 and an unclear amount on another four in New Mexico. "

As Flakey Foont used to say, "What's it all mean, Mr. Natural?

XXXXXXXXXXX
The Monahan vs. The World battle is getting weirder.

Early this morning Joe Monahan accused The Santa Fe Reporter of trying to sandbag his advertisers.


A couple of our advertisers, including Dan Serrano, report they were called by a reporter from the Santa Fe Reporter--an alternative weekly newspaper--and asked if they were an Alligator, why they advertise here and inferring, reports construction company owner Serrano--that they shouldn't. Well, they advertise here, as Sally Field once said, "because you like me! You really like me!" And any cub reporter knows an Alligator never admits to being an Alligator or he wouldn't be an Alligator! But those who buy ads here are not responsible for the ideas expressed here. Are they in the Reporter? But there we go with one of those sticky freedom of the press and freedom of association questions. Hmm. Is there a "news" story here?

The Reporter responded:


As everyone also knows, the idea of a Santa Fe Reporter journalist trying to intimidate advertisers away from one news source over another is absurd. ... Actually, if you were to return Dave Maass’ phone messages to find out why he was calling, you’d probably learn it’s because he’s reporting on the already reported “blog fight” between yourself and, well, everyone else, I guess.

To be continued, I'm sure.

XXXXXXXXX

I might be the last blogger in Blogville to run this video of Gov. Bill Richardson's audition for the new Solid Gold Dancers. (Actually it's apparently some event at Acoma Pueblo).

But in case you haven't seen it -- or even if you have, enjoy.





Thursday, May 7, 2009

Investment Investigations a Plenty!

New Mexico is not alone.

The New York Times reported Thursday that there are investigations in 30 states concerning possible corruption in investments.


“A survey of practices across the country portrays a far-reaching web of friends and favored associates: political contributors, campaign strategists, lobbyists, relatives, brokers and others, capitalizing on relationships and paying favors. These influential figures can determine how pension funds are invested, as well as state university endowments, municipal bond proceeds, tobacco settlement funds, hurricane insurance pools, prepaid tuition programs and other giant blocks of public money.”


But they didn't forget to mention New Mexico by name. The article mentions the Frank Foy pay-to-play lawsuit and Marc Correra's finder's fees.

Read the story is HERE. (Thanks Lorene!)