New Mexico Finance Authority faked 2011 audit

ALBUQUERQUE, N.M. (AP) — The New Mexico Finance Authority, which makes billions of dollars in loans for public projects, faked its annual audit that was sent to creditors and investors for 2011, the state auditor said Thursday.

The revelation shocked state officials and raised questions about both the potential fallout and what the false document might have been trying to hide.

"I don't know because we have never seen anything at this scale," said Antonio Corrales, director of operations for State Auditor Hector Balderas. "But if creditors come back and take those loans (that were made based on faked audit results), I don't know if ... insurance would cover it if it was provided under false pretenses. It could be huge."

In a press release announcing the findings, Balderas said he was "moving aggressively to determine the full extent of this fraud perpetrated against New Mexico's taxpayers."

"I'm extremely concerned that a report was fraudulently created in order to misrepresent the Authority's financial condition to agencies, investors and the public," he said.

If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
Street Address:	(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:

Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday