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Grand Jury Probe Scraps Richardson Bid to Serve as U.S. Commerce Secretary

Publication Date: 06-JAN-09
Author: Scott Blair
Format: HTML

    
Description:
New Mexico Gov. Bill Richardson (D) has withdrawn from his nomination as Dept. of Commerce Secretary in President-elect Barack Obama’s cabinet. In a Jan. 5 news conference, Richardson stated that an ongoing federal grand jury investigation into a state contract related to Governor Richardson’s Investment Partnership (GRIP) won by Beverly Hills, Calif.-based CDR Financial Products “would have forced an untenable delay in the confirmation process.”
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