KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com | SEC subpoenaed former NM state investment officer

SEC subpoenaed former NM state investment officer

Associated Press - November 17, 2009 7:35 PM ET

SANTA FE, N.M. (AP) - The Securities and Exchange Commission subpoenaed former state Investment Officer Gary Bland to testify earlier this year as part of an investigation into public investment funds.

The State Investment Council on Tuesday released subpoenas by the SEC and a federal jury in response to a public records request by The Associated Press. Among the subpoeaned documents were all of Bland's e-mail.

Bland resigned last month amid a federal investigation into state investment deals and pressure to remove him by members of the council.

State Land Commissioner Pat Lyons says the move to oust Bland was because of allegations that Bland pressured investment firms to hire third-party placement agents.

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