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

LOWELL, AR -- Advocates for immigration reforms gathered outside one local senator's office Tuesday....

ROGERS, AR-- An anonymous tip led the Benton County Sheriff to drain this lake....

NATIONAL -- It was a big night for NBC as "The Voice" crowned its season four winner Tuesday night, complete with live performances by some big names like, Cher and Cob Segar....

Brad Reed chats with defending NWA Champion Ai Miyazato and Morgan Pressel....

LITTLE ROCK - The Arkansas Livestock and Poultry Commission received confirmation Tuesday evening that a chicken in a Scott County, Arkansas, chicken house has tested positive for H7N7 Low Avian...

Rainy weather Monday put a damper on the first day of events at the Walmart Northwest Arkansas Championship presented by P&G....

ROGERS, AR-- We'll be at the Walmart NW Arkansas Championship all week. Here's a look at what's coming up:...

With temperatures in Northwest Arkansas set to hit 90 degrees this week, you may want to take a little extra time to check in on your pet....

(KNWA)-- Tonight's the big night for NBC's "The Voice." The winner will be announced on Tuesday's star-studded season finale show....

Rogers, AR -- This week's LPGA tournament will bring tens of thousands of people into Northwest Arkansas, but without the help of hundreds of locals a successful event wouldn't be possible....

 
 
More News
Start
6321632263236324632563266327632863296330
End
      Page 6322 of 6866
 
 
 
©1998 - 2013 Nwahomepage.com
Nexstar Broadcasting, Inc.
All Rights Reserved