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Is Bill Richardson Keeping Campaign Cash From Accused Ponzi Schemer?

Justin Elliott | November 23, 2009, 12:18PM

Hassan Nemazee and New Mexico Gov. Bill Richardson

New Mexico Gov. Bill Richardson did not give back donations to his presidential campaign from accused fraudster Hassan Nemazee, and Richardson may have also kept $5,000 given by Nemazee to his 2006 gubernatorial campaign.

The donations to Richardson have come under increased scrutiny since Forbes reported last week that Nemazee's investment firm was gunning for a state contract at the same time Nemazee gave the money to the '06 gubernatorial campaign. Carret Asset Management, partially owned by Nemazee, won the contract in 2007 and has made nearly $2 million in fees.

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Topics: Bill Richardson, Carret Asset Management, Hassan Nemazee

Bill Richardson

After Campaign Donations, Richardson Admin. Gave Big Contract To Alleged Ponzi Schemer's Firm

Justin Elliott | November 19, 2009, 10:56AM

Hassan Nemazee and New Mexico Gov. Bill Richardson

An investment firm partly owned by Democratic mega-fundraiser and accused Ponzi schemer Hassan Nemazee was awarded a New Mexico state contract in 2007 after Nemazee and an associate contributed to Bill Richardon's gubernatorial fund, according to an excellent Forbes story published this morning.

Nemazee, who was indicted in September on charges he bilked several banks out of $292 million, had a 24.9% stake in the investment firm, Carret Asset Management. In 2007 it won the contract to manage $200 million from the State Investment Council, the agency that controls oil and gas leasing fees. The firm has netted nearly $2 million on the deal.