Federal Grand Jury Investigates Richardson

By: AP
By: AP

ALBUQUERQUE, N.M. – A federal grand jury is investigating a California firm that contributed heavily to New Mexico Gov. Bill Richardson's political activities.

A person familiar with the proceedings told The Associated Press on Tuesday that the panel is looking into how CDR Financial Products won a lucrative contract to help finance a $1.6 billion New Mexico transportation program.

The person asked not to be named because the proceedings are secret.

The proceedings follow an FBI probe in which investigators sought documents from the New Mexico Finance Authority. Investigators also interviewed former and current authority officials about the 2004 contract with CDR.

Richardson is President-elect Barack Obama's nominee to head the Department of Commerce.

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