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Arkansas Lawmakers Subpoena Treasurer Over Audit

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401(K) 2012, Flickr

LITTLE ROCK, Ark. (AP) — Arkansas lawmakers say they will issue a second subpoena for state Treasurer Martha Shoffner to appear before a legislative committee.

She didn’t show up to a Friday meeting to discuss an audit that raised questions over her office’s investment practices.

The chairmen of the Legislative Joint Auditing Committee said they would issue a subpoena for Shoffner to appear before the panel for a Monday hearing. Shoffner had not appeared before the panel by Friday afternoon.

The audit found that Shoffner’s office sold bonds from its investment portfolio before maturity and purchased similar bonds from the same brokers, resulting in a net loss of more than $58,000.

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