California State Treasurer Involved In FBI Investigation

The California State Treasurer's Office is involved in an FBI investigation.

A spokesperson for State Treasurer Fiona Ma confirmed to Newsweek that the office was cooperating with a federal law enforcement agency.

"The State Treasurer's Office received a written request for documents delivered by federal agents," the spokesperson said in an email. "The office is cooperating and will fully comply with the request."

The documents are part of a federal grand jury subpoena on a case that is yet to be made public, according to local news station KCRA 3.

Newsweek has contacted the FBI for comment outside of normal working hours.

Fiona Ma
California State Treasurer Fiona Ma attends the iHollywood Film Festival in 2023. A spokesperson for Ma confirmed that her office was co-operating with a law enforcement agency. Greg Doherty/Getty Images for iHollywood Film Festival

Ma, a Democrat, has served as California's State Treasurer since 2019. As treasurer, she manages state investments, serves on the board of its pension funds and oversees programs that provide tax credits for affordable housing and financing for public works projects.

She previously served as a member of the California Board of Equalization, the California State Assembly, and the San Francisco Board of Supervisors.

Ma is running to be California's lieutenant governor in 2026. She was joined in that race by State Senator Steven Bradford, also a Democrat, on Monday.

"With more than two decades of experience in public office, I am uniquely qualified to be California's second-highest ranking elected official—where I will continue to be a powerful advocate for improving our state's housing supply, environment, education systems and economy," Ma's campaign website says.

"California's economy has grown to become the world's fourth-largest under my financial leadership. As your State Treasurer, I oversee trillions of dollars in transactions each year with the highest levels of integrity, transparency and efficiency."

Ma is also battling a civil lawsuit brought by a high-ranking former employee who alleges Ma made sexual advances toward her before they were fired.

Judith Blackwell, the former head of the California Tax Credit Allocation Committee, filed the lawsuit after being fired in 2021, alleging that while she and Ma were sharing rooms at a hotel and a rental property, Ma called her into her bedroom several times and climbed into Blackwell's bed with her at least once.

Sacramento County Superior Court Judge Christopher Krueger dismissed Blackwell's allegation of wrongful termination last year, but said that Blackwell's allegations, if believed by a jury, could establish that Ma sexually harassed her.

The trial was scheduled to begin in February, but has been delayed until June.

Ma has denied any wrongdoing. "As I've said from the start, this case was brought by a former disgruntled employee who the courts determined was legitimately terminated for performance-related issues, and I look forward to my day in court," she said in September last year.

Update 4/16/24, 8:30 a.m. ET: This article has been updated with additional information.

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