Albuquerque ? A former state treasurer was convicted Saturday of one count of attempted extortion and acquitted of 23 remaining counts of extortion and racketeering in his public corruption trial.

Robert Vigil’s conviction for attempted extortion carries a possible prison sentence of up to 20 years, but the judge could sentence him to as little as 12 months.

When they first indicted Vigil last year, prosecutors alleged a web of public corruption in which Vigil gave business to investment advisers in exchange for kickbacks. Vigil resigned in October 2005, after the Legislature started impeachment proceedings.

The federal investigation – code-named “Midas Touch” – spanned two years and led to the arrest of Michael Montoya, Vigil’s predecessor. Montoya pleaded guilty to lesser charges and aided the prosecution in its case against Vigil.

The charges sent shock waves through state government and triggered a flurry of proposals to tighten oversight of the treasurer’s office and its investment of nearly $5 billion in public money.