South Carolina’s Senate voted 33-8 on Monday to remove state treasurer Curtis Loftis from office due to a $1.8 billion accounting error that was discovered after a two-year investigation. The error occurred during a transition between accounting systems and involved an accumulation of errors that forensic accountants found to be mostly not real cash. Republican senators leading the call for Loftis’s removal argued that he can no longer be trusted to handle the state’s finances and had not reported the mistakes as required by law. Loftis countered by claiming that the issues were the responsibility of other officials. This marks the first time in 235 years that a South Carolina office holder has been removed from office in this manner. The decision now rests with the House, where a two-thirds majority vote against Loftis will lead to his removal. The House has not indicated if they will take up the matter, leaving Loftis’s future as state treasurer uncertain.
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