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South Carolina Senate panel recommends Treasurer Curtis Loftis be removed from office over $1.8B accounting error

Summary by WCBD
COLUMBIA, S.C. (WCBD) -- A South Carolina Senate subcommittee on Tuesday recommended that Treasurer Curtis Loftis be removed from office for his involvement in a $1.8 billion accounting error and his actions throughout the subsequent investigation. The 49-page report states that Loftis "willfully neglected" his statutory and fiduciary duties as treasurer. "The goal of the subcommittee's investigation was to ensure the security of the financial f…

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Queen City NewsQueen City News
Center

South Carolina treasurer faces calls to resign after report released in $1.8 billion accounting scandal

SOUTH CAROLINA (QUEEN CITY NEWS) — There are growing calls for the resignation of South Carolina's state treasurer following a new report on an investigation into a $1.8 billion accounting blunder. "It's just a terrible situation to be in. It shouldn't be that way," State Republican Senator Larry Grooms of Berkeley County said. Grooms is one of the loudest voices calling for state treasurer Curtis Loftis to resign. This comes after a lengthy inv…

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The Post and CourierThe Post and Courier
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Calls increase for SC treasurer to resign after 'cover-up' charges mount in $1.8B accounting error

A South Carolina Senate Committee released more than 650 pages of findings over three years that show "deception," "cover-up" and "incompetence" from the state's banker after he consistently shifted blame and contradicted claims.

·Charleston, United States
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scdailygazette.comscdailygazette.com
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SC Senate panel calls for removal of Treasurer Curtis Loftis from office

S.C. Treasurer Curtis Loftis asks for help from his staff on Tuesday, April 2, 2024, during a Senate Finance subcommittee meeting concerning $1.8 billion that has been discovered in an account. (Travis Bell/Statehouse Carolina/Special to the SC Daily Gazette)COLUMBIA — South Carolina senators are recommending Treasurer Curtis Loftis be removed from office, saying he “willfully neglected his duties” for his role in a $1.8 billion accounting error…

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WCBDWCBD
Center

South Carolina Senate panel recommends Treasurer Curtis Loftis be removed from office over $1.8B accounting error

COLUMBIA, S.C. (WCBD) -- A South Carolina Senate subcommittee on Tuesday recommended that Treasurer Curtis Loftis be removed from office for his involvement in a $1.8 billion accounting error and his actions throughout the subsequent investigation. The 49-page report states that Loftis "willfully neglected" his statutory and fiduciary duties as treasurer. "The goal of the subcommittee's investigation was to ensure the security of the financial f…

·Charleston, United States
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CPA Practice AdvisorCPA Practice Advisor

South Carolina Treasurer Accused of Violating Federal, State Law in Scathing Report on $1.8B Accounting Error

In a scathing report into the $1.8 billion accounting error where a South Carolina Senate Finance panel recommended removal of Treasurer Curtis Loftis, senators alleged the treasurer is in violation of federal law.

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MyrtleBeachSC newsMyrtleBeachSC news

State Treasurer Curtis Loftis Defends His Vision with Tremendous Passion

Written by State Treasurer Cutis Loftis State Treasurer Curtis Loftis Responds to Allegations Columbia, SC – (March 26, 2025) – State Treasurer Curtis Loftis rejected calls for his removal by the Senate Finance Constitutional Subcommittee. Further, he welcomes calls for the Inspector General to come review the books and operations of the State Treasurer’s Office to counter the inaccurate and misleading assertions made in today’s Senate Finance m…

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WCBD broke the news in Charleston, United States on Tuesday, March 25, 2025.
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