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ALBUQUERQUE, N.M. (AP) — An investigation is under way to determine if investments made by the state of New Mexico were influenced by possible fraud or other criminal activity from 2004 to 2009, court documents state.
A copyright story Monday in the Albuquerque Journal cites a sentencing memo filed in federal court in New York in connection with a bank fraud case against Democratic Party fundraiser Hassan Nemazee.
The April document describes the New Mexico investigation as ongoing and said it "concerns whether fraud or other criminal activity influenced or corrupted investments made by the State of New Mexico."
Nemazee previously secured an agreement for his financial management firm to handle more than $200 million in New Mexico investments.
Nemazee, recently sentenced to 12 years in federal prison for bank fraud in New York, told prosecutors and FBI agents he initiated contacts with New Mexico officials to secure an agreement for Carret Asset Management to handle a State Investment Council stock portfolio.
After Nemazee's arrest last August, State Investment Council staffers visited Carret in New York and were told Nemazee was a silent partner with no involvement in day-to-day operations.
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