Quantcast
breaking news

State Senator: AR Treasurer Martha Shoffner Should Resign

By: Jeffrey Campbell
Updated: January 8, 2013
watch video
State Sen. Jason Rapert is calling on embattled Arkansas Treasurer Martha Shoffner to resign.
Shoffner, who sources say is under investigation by the federal government, will not speak with KARK regarding questionable bond dealings that landed her in the hot seat with state lawmakers.
"The behavior of the state Treasurer, under the circumstances makes us all uncomfortable, I do not get the feeling we are getting the full story out of what occurred in the state Treasurer's office," Rapert said.
An audit last year revealed Shoffner's office sold some bonds before they matured and ended up losing money. The audit also found she steered $100 million in bond deals to an St. Bernard, an Arkansas-based firm, and only $25 million in bond trades to other firms that were offering the same yield.
Lawmakers in September 2012 had to subpoena Shoffner in order to get her to testify. She was unable to explain her decisions and lawmakers ordered state auditors to dig deeper.
The second audit showed eight transactions through St. Bernard resulted in a net economic loss of $783,825.
Shoffner was again unable to explain herself at a second hearing in December 2012 when the results of that second audit were made public.
As a result, lawmakers asked federal and state law enforcement to investigate.
The Department of Justice's policy is to neither confirm or deny whether it is conducting an investigation.

Comments

Log in to comment on this article
Related Content

NORTHWEST ARKANSAS -- Several local organizations are organizing events and donation efforts to support the victims of Monday's tornado in Moore, OK....

"She saved hundreds of lives we just want to help save her life,"...

FAYETTEVILLE, AR -- If you belong to a neighborhood association, City of Fayetteville wants to hear from you.is conducting a survey to identify neighborhood associations currently active in in to...

Springdale, AR - Imagine not being able to understand what people are saying to you when conversing. it's a reality many Spanish speaking parents in Springdale face on a daily basis. However, a in...

You asked the questions and we got the answers.  This week we went to Siloam Springs and met up with Mayor John Mark Turner....

FAYETTEVILLE, AR -- Fayetteville police will be handing out free child ID kits as part of National Missing Children's Day....

FAYETTEVILLE, AR.-- A toothbrush, deodorant and even wet wipes. These are just a few items you probably wouldn't think about grabbing before you take shelter from a tornado - like the one that hit a...

It's time for Pet of the Week!...

In 1918, Harry Houdini registered for the selective service.  What name did he use?...

FAYETTEVILLE, AR -- The Washington County Sheriff's Office is trying to find a nurse who went missing shortly after leaving work Monday afternoon....

 
 
More News
Start
6311631263136314631563166317631863196320
End
      Page 6320 of 6780
 
 
 
©1998 - 2013 Nwahomepage.com
Nexstar Broadcasting, Inc.
All Rights Reserved