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State Treasurer in South Carolina Denounces Accusations of Involvement in $1.8 Billion Accounting Error as a Witch Hunt – Seattle PI


South Carolina Treasurer Curtis Loftis is facing scrutiny over his alleged involvement in a $1.8 billion accounting error. Loftis has called the accusations a “witch hunt” and maintains his innocence.

The controversy stems from an accounting mistake made by the state retirement system, which resulted in a $1.8 billion shortfall. Some have raised questions about Loftis’ role in overseeing the system and whether he should have caught the error sooner.

In response to the allegations, Loftis has denied any wrongdoing and stated that he had raised concerns about the retirement system’s finances in the past. He argues that he has been a vocal critic of the system and has pushed for more transparency and accountability.

Despite Loftis’ protests, some have called for an independent investigation into the matter to determine the extent of his involvement. Critics argue that as treasurer, Loftis should have been more proactive in monitoring the retirement system’s finances and ensuring that such a large error did not occur.

Loftis’ supporters, however, believe that he is being unfairly targeted and that the accusations against him are politically motivated. They point to his track record of advocating for fiscal responsibility and transparency in government.

As the controversy continues to unfold, it remains to be seen what impact it will have on Loftis’ political career. The treasurer is up for re-election in 2022, and the outcome of the investigation could play a significant role in shaping the race. In the meantime, Loftis is standing firm in his assertion of innocence and pushing back against what he sees as baseless accusations.

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