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

Steve Plitz spent the afternoon in Siloam Springs, surveying shredded trees as well as other damage from Monday's storms....

A new Walmart Neighborhood Market is going up in Bentonville, and there are 95 jobs up for grabs!...

STUTTGART, AR - No guns on campus is the decision for the University of Arkansas Board of Trustees. ...

LITTLE ROCK, AR -The Arkansas State Police (ASP) has released the identity of the man arrested early this morning on the grounds of the Governor's Mansion....

FARMINGTON, AR-- A Farmington man faces robbery charges for forcefully trying to take four dollars and a cheeseburger from a woman....

It's National Boating Safety Week, and all week long we are bringing you the information you need to stay safe when you're out on the water....

Crews are making quite a bit of progress on the Steven L. Anderson Design Center & Vol Walker Hall at the University of Arkansas....

SPRINGDALE, AR-- Springdale Police need help finding a man who tricked a store clerk out of some cash....

Arkansas Senator Mark Pryor spoke with an Arkansas State University radio station Wednesday, covering several hot button issues....

Tickets go on sale Thursday, May 30....

 
Women of NWA Submission
 
Women of NWA
Start
123
End
      Page 1 of 3
 
 
 
©1998 - 2013 Nwahomepage.com
Nexstar Broadcasting, Inc.
All Rights Reserved