Kansas City Chiefs CEO Clark Hunt is being sued by the New Mexico government State Investment Council for agreeing to a kickback arrangement.
Kansas City Chiefs CEO Clark Hunt is being sued by the New Mexico government. The New Mexico State Investment Council (SIC) is making the claim that Hunt improperly secured hundreds of millions of dollars in state investment money in a kickback deal tied to former New Mexico governor Bill Richardson.
Furthermore, the lawsuit claims that Hunt agreed to a “pay to play” deal with political insiders Marc and Anthony Correra 12 years ago. According to their part of deal, the two brothers were to use their influence to guide state investment money into Hunt’s hedge fund firm.
The Correras were political gatekeepers to the SIC investments. They were also awarded millions of dollars in finder’s fees. Anthony Correra is accused of helping Richardson maintain a “lavish lifestyle” that included paying for expensive travel, meals, hotels, events, and vacations costing hundreds of thousands of dollars. This is the latest news in the pay-to-play scandal that rocked the Richardson administration.
The lawsuit was filed in late August in the First Judicial District Court in Sante Fe, New Mexico. The defendants are HFV Asset Management LP and other “John Does,” along with Hunt. It asserts that the New Mexico Investment Council gave HFV $300 million and millions more in management fees that were mismanaged. The Chiefs’ CEO is the only defendant named specifically, and he is a partner at HFV.
Additionally, the SIC lawsuit alleges that Hunt personally met with the Correra brothers in Albuquerque after Hunt flew in. At said meeting, the brothers explained that they would allow Hunt’s firm to receive substantial investments through the elder Correra’s relationship with Richardson, according to the lawsuit.
Rob Hoffman, an attorney representing Hunt, said in a statement that Hunt is innocent.
The NMSIC lawsuit is, in a word, baseless,” Hoffman said. “The unfounded allegations against my client contravene both the facts of this case and his long-standing, irrefutable commitment to character and integrity. It represents nothing more than an irresponsible attempt to extract financial gain by damaging my client’s good name ,and we intend to explore all available legal remedies in pursuit of a just outcome.”
The SIC is seeking punitive and compensatory damage money, but the lawsuit does not list a specific amount.