For Immediate Release
Media Contact: Bob Cooper
(208) 334-4112

Date: May 26, 2004

Attorney General Concludes Chief Foundation Investigation

(Pocatello) - Attorney General Lawrence Wasden said today that an investigation of the Chief Foundation is concluded and that no criminal charges will be filed.

The Bannock County Prosecuting Attorney asked the Attorney General to investigate allegations made by Mr. Edmond Cook in letters to the Bannock County Commissioners dated April 17, 2003 and October 27, 2003.

"At the conclusion of the investigation, my Criminal Law Division concluded that the evidence does not support the allegations of criminal wrongdoing," Attorney General Wasden said during a news conference in Pocatello. "Accordingly, I have advised the Bannock County Prosecuting Attorney that my office will not be bringing any criminal prosecutions related to the Chief Foundation."

Wasden said his office referred one matter to the Idaho State Tax Commission for a determination as to whether civil action is appropriate concerning any possible tax deficiencies. The matter relates to a tax credit granted to Magna Investment as part of the Chief Foundation's acquisition of the J.C. Penney's building.

Wasden also released the investigation report prepared by Criminal Investigator Jim Kouril and the other records of the investigation, totaling more than 650 pages.

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