Richardson pay-to-play indictment unlikely

WASHINGTON, Aug. 28 (UPI) -- The investigation of New Mexico Gov. Bill Richardson is coming to a close with no criminal charges appearing likely, said sources families with the matter.

Prosecutors involved in the federal probe into alleged "pay to play" dealings on the part of Richardson and his top aides concluded an indictment was unwarranted, The Washington Post reported Thursday, citing anonymous sources.

Federal investigators scrutinized financial companies and politicians who allegedly accepted gifts to, in turn, award large fees on investment advice for city and local governments, the newspaper said.

Richardson was tagged early in President Barack Obama's term to head the Commerce Department, but removed himself from consideration in January due to the investigation.

Richardson would have become the highest ranking Hispanic in the Obama Cabinet, the newspaper said.