South Carolina Senate Votes To Oust State Treasurer Over $1.8 Billion Error

Members of the South Carolina Senate voted on April 21 to remove the state’s embattled treasurer for “willful neglect” of his duties, sending the matter to the state House for consideration.

The 33–8 vote followed an hours-long hearing of the full Senate, during which state Sens. Larry Grooms and Stephen Goldfinch, both Republicans, pushed for state Treasurer Curtis Loftis’s removal over a $1.8 billion accounting error.

South Carolina Treasurer Curtis Loftis prepares for a hearing in the state Senate, in Columbia, South Carolina, on April 21, 2025. Jeffrey Collins/AP Photo

“The big secret of Treasurer Loftis, the one that he’s kept hidden away, is that there are hundreds and hundreds and hundreds of millions of dollars in errors in the Treasury books today, and he doesn’t know how to fix them,” Grooms said in opening the hearing.

A state Senate Finance subcommittee report released last month said Loftis, a Republican, “failed to maintain the integrity” of South Carolina’s banking and investment records after state officials were alerted to an unexplained $1.8 billion in funds under his office’s exclusive control.

An outside forensic audit determined that most of the funds in question were not real cash but the result of bookkeeping errors that followed the state’s transition to a new accounting system in the 2010s.

Loftis, now in his fourth term, was first elected treasurer in 2010 and has held the office since.

While two other public officials have resigned in connection with the state’s accounting issues, Loftis, Grooms said, “remains defiant and refuses to take responsibility for his failures.”

Loftis, defending his record, likened himself to President Donald Trump, who vociferously denounced various investigations related to his affairs.

“I’m inspired by President Trump, and I, too, will not back down,” Loftis said.

https://www.zerohedge.com/geopolitical/putin-offers-freeze-ukraine-invasion-along-current-front-line-report

WEF Investigates Klaus Schwab Over 'In-Room Massages' And Other Allegations

One day after it was reported that World Economic Forum founder Klaus Schwab, 88, resigned after Chairman after 55 years, the WSJ reports that Schwab is under investigation by the organization he created after a whistleblower alleged financial and ethical misconduct by Mr. "eat the bugs" and his wife.

Schwab asked junior employees to withdraw thousands of dollars from ATMs on his behalf and used Forum funds to pay for private, in-room massages at hotels.

His wife Hilde, a former Forum employee, scheduled “token” Forum-funded meetings in order to justify luxury holiday travel at the organization’s expense.

The letter also raises concerns about how Klaus Schwab treated female employees and how his leadership over decades allegedly allowed instances of sexual harassment and other discriminatory behavior to go unchecked in the workplace

Other allegations include the Schwab family's use of Villa Mundi - a luxury property bought before the pandemic by the Forum located next to the organization's Geneva headquarters, which the whistleblower letter maintains that Hilde Schwab maintains tight control over, and which the forum paid $30 million to purchase and another $20 million to renovate - also overseen by Hilde.

In recent days Schwab is said to have railed against an investigation - telling board members that he denied the allegations and would challenge them in a lawsuit, according to the report.

Instead, the board launched a probe during an emergency meeting on Easter Sunday. In response, Schwab resigned immediately as chairman vs. staying on for an extended transition period as previously planned.

A spokesman for the Schwabs told the Journal that they deny every allegation in the whistleblower complaint, and that Klaus will file a lawsuit against whoever's behind it - and "anybody who spreads these mistruths."

Furthermore, Scwab says he paid the WEF back for said 'in-room massages', and denied the allegations about luxury travel and withdrawing funds.

According to the WEF, its board unanimously supported the decision to launch an independent investigation "following a whistleblower letter containing allegations against former Chairman Klaus Schwab. This decision was made after consultation with external legal counsel."

"We feel compelled to share a comprehensive account of systemic governance failures and abuses of power that have taken place over many years under the unchecked authority of Klaus Schwab," reads the letter, which states it was from current and former Forum employees.

The organizer of the annual Davos conference has been shaking up its leadership in recent weeks in response to a previous board probe into its workplace culture. In a recent memo, Børge Brende, the Forum’s CEO, said the Forum would take steps to address leadership issues identified by the prior probe and that the investigation didn’t substantiate the allegations against its founder.

A few weeks ago, Schwab, 87, said he’d step down as nonexecutive chairman of the Forum’s board, and the Forum said the succession process would be completed by January 2027. The whistleblower letter blew up that timeline.

Behind the scenes, a high-stakes boardroom drama unfolded pitting Schwab against the global powerplayers on the Forum’s board. The board includes celebrities like cellist Yo-Yo Ma and politicians like Al Gore. It also has business leaders like AXA Group CEO Thomas Buberl and Accenture CEO Julie Sweet. -WSJ

https://www.zerohedge.com/political/bug-and-tug-wef-investigates-klaus-schwab-over-room-massages-and-other-allegations

you and your family will be safe turned out to be bullshit.

Defense Contractor’s Longtime Associate Pleads Guilty to Conspiracy to Defraud the United States

Scheme caused $128 million loss to the U.S. Treasury

https://www.justice.gov/usao-dc/pr/defense-contractors-longtime-associate-pleads-guilty-conspiracy-defraud-united-states

If any Anon's want to pass on some protection prayers for my Son, that'd be great.

The demons want him dead to stop me doing this!

Thanks

Former Lay Leader Pleads Guilty To Conspiracy To Commit Wire Fraud And Mail Fraud For Role In Scheme To Defraud AME Zion Church Congregations In California

https://www.justice.gov/usao-ndca/pr/former-lay-leader-pleads-guilty-conspiracy-commit-wire-fraud-and-mail-fraud-role