Regulator issues report on NMFA fake audit

Posted at: 12/03/2012 2:45 PM
Updated at: 12/03/2012 6:09 PM
By: staff

A new report shows bad management and a lack of oversight led to a forged audit at the New Mexico Finance Authority.

The state securities division blamed a "culture of complacency" at the department. 4 On Your Side broke the story over the summer.

Last week, former Financial Authority Controller Greg Campbell pleaded guilty to fraud and forgery.

the fake audit jeopardized funding for communities across the state.