COLUMBIA – (March 25, 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 meeting.
Treasurer Loftis’ statement on today’s meeting:
“Senator Larry Grooms and his fellow senators continued their attack against me by making countless false accusations. Because they operate under the protection of legislative immunity, there is little I can do to put an end to their baseless attacks.
However, I will continue to respond with the truth, and trust that any objective person will see their accusations for what they are: politically motivated grandstanding.
As such, I welcome the State’s Inspector General to come conduct a study of the State Treasurer’s Office, and I will personally ensure that he has unfettered access to whatever information he needs. Moreover, I invite the State Law Enforcement Division to investigate these matters if it deems appropriate.
I remind you that this state is under an SEC investigation, and I look forward to cooperating fully with that as well.
The voters elected me in four statewide elections, and I answer to them, not the entrenched politicians in the State Senate. Today’s report isn’t about accountability—it’s a power grab. These elected officials don’t want an elected state treasurer; they want an appointed one so they can control billions of public dollars for their own special interests. My focus is protecting the hard-working taxpayers, not the interests of the political elite.
South Carolina’s financial threat isn’t from mismanagement or missing money. The real danger comes from a relentless, politically motivated attack on my office—one that risks undermining our state’s financial reputation, increasing taxpayer costs, and stripping voters of their right to elect a Treasurer who works for the people, not special interests.
To be clear, there was no mysterious bank account, no missing money, no stolen money, and no taxpayer funds were lost. At no point did this accounting error affect the Treasurer’s actual bank balances. South Carolinians can rest assured that their money is safe and secure.”
