Oregon Department of Justice

Attorney General Hardy Myers today released the results of a criminal investigation into Diana Goldschmidt's October 29, 2003 participation in the Oregon Investment Council's decision to authorize investment of up to $300 million from the Oregon Public Employees Retirement Fund in Texas Pacific Group's (TPG) plan to purchase Portland General Electric (PGE). Oregon Department of Justice Investigators found no evidence that at the time of the Investment Council vote on October 29, 2003, either Diana Goldschmidt or her husband, former Oregon Governor Neil Goldschmidt, knew of the future involvement of former Governor Goldschmidt in the proposed purchase of PGE by TPG. Investigators also found no evidence of state criminal law violations by officials at the Oregon State Treasury and TPG.

"We have concluded that with regard to their involvement in Texas Pacific Group's proposed acquisition of PGE, no Oregon criminal statutes were violated by Diana or Neil Goldschmidt, TPG personnel, or any employee of the Oregon State Treasury," Myers said. "During the course of our investigation, we received full cooperation from every individual contacted by the Department of Justice."

DOJ investigators conducted 23 interviews, examined thousands of telephone toll records, searched e-mails retained by Treasury and TPG employees, and examined TPG business records pertaining to the proposed transaction. Investigators also examined records held by Neil Goldschmidt's former consulting firm. The complete investigation report is available at The complete investigation report is also available at /releases/pdf/gold_report.pdf