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Former Richardson Aide Named In Investment Lawsuit

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TIM KORTE | February 3, 2009 03:26 PM EST | AP

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Read More: Bill Richardson, Bill Richardson Commerce, Bill Richardson Obama, New Mexico Governor, Home News

ALBUQUERQUE, N.M. — A former state investment officer claims Gov. Bill Richardson's former chief of staff pressured board members to support $90 million in failed investments because of political considerations.

Frank Foy on Tuesday identified David Contarino as the previously undisclosed "John Doe #2" in his lawsuit.

It alleges Contarino directed Educational Retirement Board chairman Bruce Malott and state investment officer Gary Bland to make investments with a firm called Vanderbilt Capital that later proved to be worthless.

Malott's lawyers attended Foy's news conference, and the event degenerated into a five-minute shouting match between the two sides.

The Associated Press left a message with a spokesman for the governor seeking comment.

ALBUQUERQUE, N.M. — A former state investment officer claims Gov. Bill Richardson's former chief of staff pressured board members to support $90 million in failed investments because of politica...
ALBUQUERQUE, N.M. — A former state investment officer claims Gov. Bill Richardson's former chief of staff pressured board members to support $90 million in failed investments because of politica...
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