Skip to comments.Prosecutors Question Former Treasurer Montoya in Vigil Case (NM-Kickbacks, Richardson Crony)
Posted on 04/18/2006 10:42:06 PM PDT by CedarDave
Former state Treasurer Michael Montoya on Tuesday implicated a political ally of Gov. Bill Richardson in a widespread kickback scheme that began soon after Montoya took office in 1995.
Montoya's testimony came as federal prosecutors laid the foundation for a racketeering case against Robert Vigil, who succeeded Montoya as treasurer when he took office in 2003. Montoya described for the jury how he demanded kickbacks from investment advisers who helped arrange bids on certain investments. He also expanded the scope of the kickback scheme from what it had previously been portrayed in documents filed in the months leading up to Vigil's trial.
Montoya told jurors about getting cash payments from security brokers and dealers who offered bids to the state for investments in government agency securities.
Montoya said Albuquerque securities broker Guy Riordan received "the lion's share" of the treasurer's office business in government agency securities. In exchange, he said Riordan paid him an estimated $75,000 to $100,000 over five to six years. Montoya also said Riordan had contributed to his campaign.
A lawyer for Riordan, Tim Padilla, dismissed the allegations of kickbacks and called Montoya an "absolute liar."
According to Montoya, Riordan personally gave him the cash payments, often when they had lunch at restaurants. They would go into the restroom for the exchange and "in the stall he would give me money," the former treasurer said.
The alleged kickbacks between Montoya and Riordan took place before Richardson entered office in 2003.
Riordan, who currently works for Wachovia Securities in Albuquerque, was appointed to the state Game Commission by Richardson. He contributed at least $24,000 to Richardson's campaign in 2002 and his re-election.
Riordan and Richardson have attended sporting events together, including boxing matches and a 2004 World Series game, the Albuquerque Journal reported last year.
(Excerpt) Read more at abqjournal.com ...
Late night ping.
Woofie, how did dinner with JimRob go?
I thought it went great ...It was a small group but everything worked well ...Jim Rob and crew got there a bit late but that gave us freeperes a chance to talk a bit
Sorry ya missed it
After this information was disclosed yesterday afternoon, Richardson last night removed Riordan from the Game and Fish Commission and contributed $24,000 to charity.
(Sort of like shutting the barn door after the donkey has escaped?)