Valencia County finance director resigns after $2 million hospital scam

Valencia County's finance director has resigned after the county lost $2.02 million in a phishing scam tied to construction of the Valencia County Hospital in Los Lunas. The case has put the county's payment controls under pressure because the money was sent out before staff caught the fraud.

In a March 12 statement and fraud FAQ, the county said the scheme began in early January 2026 when someone posing as Bradbury Stamm Construction requested payment for hospital work using an amount known only to the parties. A Valencia County employee completed the payment on Jan. 2, 2026, and the money was ultimately withdrawn on Jan. 8. County leaders said they were alerted by the Grants Director.

Emails connected to the scam showed months of back-and-forth between the finance director and an impersonator claiming to be Bradbury Stamm's chief financial officer, including the use of that official's name. By mid-March, the employee who made the payment no longer worked for the county, and county officials later confirmed the finance director's resignation.

The loss matters far beyond one transfer. The hospital in Los Lunas is one of the county's most consequential projects because it is meant to improve emergency access and reduce the need for residents to travel for care. A $2.02 million hit can strain cash flow, invite audits and force the county to tighten vendor verification and approval rules before more public money leaves the treasury.

Even if construction continues on schedule, the scam has already raised questions about who approved the payment, why the warning signs were missed and whether more than one office or control point failed. For Valencia County taxpayers, the bigger issue is not just the resignation, but whether the safeguards meant to protect a major health-care investment can withstand the next attempt.