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

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....

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....

ROGERS, AR. -- One local hospital is teaming up with the LPGA this year, encouraging fans, volunteers and even players themselves to record their steps around the fairway. ...

SPRINGDALE, AR-- Springdale Police arrested a registered sex offender Monday who had walked away from his parole in Little Rock and was living near schools....

FAYETTEVILLE, AR-- A Kansas City Woman is under arrest after a theft attempt at the Northwest Arkansas Mall in which a Sheriff's Deputy was nearly hit by the getaway car....

FAYETTEVILLE, AR-- A domestic disturbance between a Fayetteville couple ended with their 11-year-old child in DHS custody....

(KNWA)--  The Voice season finale starts is Tuesday at 7 right here on KNWA. Former contestant and Fort Smith native Josiah Hawley give us his insider tips on which of his former showmates...

Amie Carpenter has been chosen as the new Scott County sheriff after her husband was killed in the line of duty last month....

 
 
More News
Start
6531653265336534653565366537653865396540
End
      Page 6533 of 6865
 
 
 
©1998 - 2013 Nwahomepage.com
Nexstar Broadcasting, Inc.
All Rights Reserved