Tag: Pension Funds

Curtis M. Loftis Jr., South Carolina’s treasurer

The Tough Fight of Curtis Loftis

Despite continuing efforts to embarrass and silence him, SC Treasurer Curtis Loftis continues to criticize the SCRSIC for poor performance.

Loftis was subjected to allegations in 2011 that he and Mallory Factor were partners in what was called a “pay to play” scheme involving state retirement funds.

Despite the best efforts of members of the SC Retirement System Investment Commission, Gov. Nikki Haley, then state senator Greg Ryberg and others, Loftis was cleared of all allegations by SLED and the SC Attorney General’s office.

Currently, he is facing an Ethics Commission hearing alleging Loftis used his influence as a state constitutional officer to include a business associate and friend as a lawyer in a lawsuit against the Bank of New York Mellon.

I predict these allegations will be found just as baseless.

The good ole boys and their confederates just can’t stand a politician who looks out for the public good first.

And Loftis is not criticizing without reason. The SC retirement system is consistently among the bottom few performers of public pension funds in the nation despite paying hundreds of millions of taxpayer dollars in fees and giving the underperforming staffers at the SCRSIC generous annual bonuses with more taxpayer dollars.

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The Investigation of Reynolds Williams and the $25 Billion S.C. Public Pension Fund Moves Forward

Williams Investigation Moves Forward

An investigation of alleged misconduct and conflict of interest against S.C. Retirement System Investment Commission chairman Reynolds Williams moved forward Tuesday when the S.C. Attorney General’s office requested SLED and the S.C. Ethics Commission to investigate the charges.

A Statement from AG Wilson’s Office: Based upon the nature of the allegations in the Treasurer’s letter, we are today forwarding the material we have on file to both SLED and the State Ethics Commission. (The Treasurer’s letter alleges activity that would fall under each authority, criminal and ethical.) When both entities have completed their reviews, we will then determine what, if any, prosecutorial action is warranted.

Enumerated in a letter from S.C. Treasurer Curtis Loftis to Attorney General Alan Wilson, the allegations stem from work Williams’ law firm did for American Timberlands, LLC while the company was being considered as a partner on an investment by the SCRSIC.

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