A former employee of the New Mexico treasurer's office has been indicted by a state grand jury on one count of attempted bribery of a public officer.
Joseph O. Garcia, a former mid-level employee in Treasurer David King's office, was recently indicted for attempting to solicit King's support in a standby letter-of-credit investment proposal by a New York-based broker, Peter Maggi.
In a previous interview with The Bond Buyer, King said that Maggi had offered a $50,000 campaign contribution last January in return for help with the state Public Employee Retirement Association board, of which King was a member.
King reported the event and subsequent lobbying by Garcia to the state's Organized Crime Commission, which began an investigation. As part of the investigation, King later met with Garcia and wore a tape recording device, during which time Garcia allegedly said there would be some type of reward for King's help.
Garcia sued the state for being fired in May from his job as financial management consultant in the treasurer's collateral section. He says he is innocent of any bribery attempts.