'Anaya acknowledges that the Commission is not imposing a civil penalty based on his substantial cooperation in a Commission investigation and related enforcement action' -- SEC order
The U.S. Securities and Exchange Commission has closed its case against former New Mexico Gov. Toney Anaya, whom it had accused of violating securities laws by failing to disclose that two consultants in a company he ran had either criminal histories or had been in previous trouble with the SEC.
Anaya cooperated with the agency and won’t face any fines or penalties, the SEC said Thursday in accepting a settlement offer that Anaya had proposed.
“Anaya acknowledges that the Commission is not imposing a civil penalty based on his substantial cooperation in a Commission investigation and related enforcement action,” the SEC’s order says. The SEC said it was lifting its previous cease-and-desist order against the former governor.
On June 16, 2014, the SEC barred Anaya from offering any penny stocks for five years. The case concerned a company Anaya had operated, Natural Blue Resources. The firm went public in 2009 and its mission was to create, acquire or invest in environmentally friendly companies. Anaya and the company hired two consultants, James E. Cohen and Joseph A. Corazzi.
Cohen had previously been barred by the Financial Regulatory Authority from associating with broker-dealers. In 2004 he pleaded guilty in New York state to attempted corruption and attempted larceny in the first degree. The New York Supreme Court sentenced him to one to three years in prison and ordered him to pay $545,000 in restitution.
Corazzi, of Albuquerque, was permanently barred by the SEC in October 2002 from acting as an officer or director of a public company. He was fined $75,000.
Anaya served as governor from 1983 through 1987. He was the state’s attorney general from 1975 to 1978. In 2009, then-Gov. Bill Richardson appointed Anaya to head the New Mexico Office of Recovery and Reinvestment, which distributed federal stimulus money during th heart of the recession.