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South Carolina treasurer calls questions of his role in $1.8 billion accounting error a witch hunt

Summary by Washington Top News
COLUMBIA, S.C. (AP) — South Carolina Treasurer Curtis Loftis said Wednesday that calls for him to resign over an accounting error that left the state trying to figure out what happened to a $1.8 billion fund amounted to a witch hunt. A House budget subcommittee asked Loftis about the complex problem his office and two others knew about for roughly six years before it was reported to the General Assembly. The leaders of two other agencies who wer…

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News24News24

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Exxaro CEO Nombasa Tsengwa has challenged her suspension as illegal arguing in court that the board and chair have overstepped their powers.

·South Africa
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The StateThe State

South Carolina Treasurer Vows to Stay in Office, After Auditor Resigns Amid $1.8 Billion Accounting Error

South Carolina Treasurer Curtis Loftis vowed to complete his term despite two other state financial officers involved in the yearslong state accounting issues having left their jobs.

·Columbia, United States
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Queen City NewsQueen City News

SC lawmakers interrogating finance officials shows questions still loom over mystery $1.8 billion

SOUTH CAROLINA (QUEEN CITY NEWS) -- On Wednesday, lawmakers interrogated officials who work closely with the state's money hoping to figure out where the issue started and why there was a communication breakdown.    State auditor's office representatives say audits from an independent firm never showed a problem until fiscal year 2022.  "That's the first year that any of us knew that there was a major problem,” said Sue Moss from South Carolina'…

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WCBDWCBD

Budget meeting turns into hearing for 1.8 billion dollars

Columbia, S.C. (WSPA) - The South Carolina Treasurer defended his actions to a House committee Wednesday, amid calls for his resignation. Lawmakers are investigating what was thought to be a $1.8 billion accounting error. The budget hearing turned into a questioning of Treasurer Curtis Loftis about the mysterious $1.8 billion, the first time he's been questioned since a new report was released. An independent financial accounting firm, Alix Part…

·Charleston, United States
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WSPAWSPA
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WSAVWSAV

Budget meeting turns into hearing for $1.8 billion

COLUMBIA, S.C. (WSPA) - The South Carolina Treasurer defended his actions to a House committee Wednesday, amid calls for his resignation. Lawmakers are investigating what was thought to be a $1.8 billion accounting error. The budget hearing turned into a questioning of Treasurer Curtis Loftis about the mysterious $1.8 billion, the first time he's been questioned since a new report was released. An independent financial accounting firm, Alix Part…

·Savannah, United States
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The Post and CourierThe Post and Courier

SC state treasurer says he won't resign, denounces 'witch hunt' over $1.8 billion accounting error

South Carolina State Treasurer Curtis Loftis, who has faced calls for his resignation over his role in a $1.8 billion accounting scandal, told a legislative panel he would remain in his post, calling criticism against him "a political witch hunt."

·Charleston, United States
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Washington Top News broke the news in Washington, United States on Wednesday, January 29, 2025.
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