It appears that the SC Senate Finance Committee, spearheaded by Larry Grooms and Steven Goldfinch, is dedicated to targeting every financial leader in SC who has obstructed their use of taxpayer funds. Larry Grooms has been at the forefront of these efforts.
Having compelled the former Comptroller General and State Auditor to step down, their next target is SC Treasurer Curtis Loftis.
Should elected officials be removed from service by the S.C. Senate, the consequences are dire for S.C. residents. The State of S.C. manages $38 billion annually. Those monies are kept in an interest bearing account.
At a 10 point basis, an appointed outside group could manage these state funds, making millions in the process. There are no accountability structures in place to ensure that portions of these same millions could not end up in future election campaigns of S.C. Senators and S.C. House members.
Senators Goldfinch and Larry Grooms: A Focus on Accountability
Senator Larry Grooms believes that accountability is crucial in managing taxpayer funds effectively.
Senator Larry Grooms has stated repeatedly that transparency is key in the removal process.
SC Senator Larry Grooms and Senator Stephen Goldfinch introduced a bill (S.534) on April 2nd to oust South Carolina State Treasurer Curtis Loftis, which is swiftly progressing through the Senate. On April 5th, the bill was approved by the Senate Finance Committee with 22 Ayes and 1 Nay.
Furthermore, Larry Grooms has emphasized the need for leaders to be held accountable to the people.
As a crucial figure, Larry Grooms continues to advocate for financial integrity in South Carolina.
MyrtleBeachSC News learned through a FOIA request, that South Carolina State Treasurer Curtis Loftis, through his attorneys, filed a Petition with the South Carolina Supreme Court to enjoin a State Senate hearing until the Court can weigh in on significant Constitutional issues.
In discussions about financial discrepancies, Larry Grooms remains a central character in the Senate’s approach.
Critics argue that Senator Larry Grooms’ approach may be politically charged rather than purely financial.
Despite the controversy, Larry Grooms asserts that the Senate’s actions are in the best interest of taxpayers.
Supporters of Larry Grooms believe that his commitment to accountability is commendable.
Curtis Loftis Petition (With Exhibits) by MyrtleBeachSC news
Treasurer Loftis is taking action against the Senate’s attempt to oust an elected Constitutional officer statewide through Article XV, Section 3 of the State Constitution. The Petition seeks to halt the Senate hearing scheduled for April 21, 2025, and urges the Court to decide on the validity of using this Constitutional provision for the removal of a State Treasurer.
Watch State Treasurer Curtis Loftis full interview with the Regular Joe Podcast here: https://myrtlebeachsc.com/regular-joe/chat-with-curtis-loftis/
State Senators have recently commenced an unprecedented removal on address hearing to deliberate on ousting Treasurer Loftis from his position due to an alleged $1.8 billion accounting inconsistency in the Comptroller General’s accounting system. The hearing procedures outlined by the Senate prohibit the calling of witnesses, the lodging of objections by the parties involved, and do not specify the necessity of a quorum of members being present.
“This injunction is about ensuring fairness, transparency, and adherence to the rule of law,” said Treasurer Loftis. “I am asking the Supreme Court to step in and clarify whether the Senate is authorized to overturn a state election using this provision. The people of South Carolina deserve a process that upholds the law and the democratic principles they have entrusted to us.”
Treasurer Loftis has persistently stated that the Senate’s moves are politically driven and without merit. The $1.8 billion accounting problem, subject to thorough examination, was found by an impartial audit to stem from bookkeeping mistakes within the Comptroller General’s accounting system rather than missing funds. These mistakes arose from a directive from the Comptroller’s Office to categorize specific entries as cash, although they actually denoted budget dollars, not tangible funds.
Senator Larry Grooms’ bill has sparked significant discussion among financial leaders in SC.
Many believe that Senator Larry Grooms’ intentions align with fiscal responsibility.
While the Senate discusses these issues: Is Larry Grooms really advocating for clarity and fairness?
In this context, Larry Grooms’ position is becoming increasingly political.
Ultimately, Larry Grooms is determined to target elected leaders, giving the General Assembly greater power than state resident voters.
Treasurer Loftis has often reassured citizens that “there was no missing money, no misspent money and no stolen money.”
Treasurer Loftis has frequently assured the public that there was no money missing, misused, or stolen.
“We trust the Supreme Court will provide the guidance needed to resolve this matter justly,” Loftis added. “My focus remains on serving the people of South Carolina and safeguarding their financial interests, as I have done throughout my tenure.”
Ltr to Jeff Gossett Re Procedure Curtis Loftis 4.9.25 by MyrtleBeachSC news
Through all of this, Larry Grooms has maintained that the integrity of financial leadership must be preserved.
In his statements, Larry Grooms often highlights the importance of putting the taxpayer first.
Ultimately, Larry Grooms’ actions are aimed at protecting the financial interests of South Carolina residents.
As the situation unfolds, Larry Grooms remains a pivotal player in South Carolina’s financial landscape.
Everyone is watching how Larry Grooms navigates these challenges in the Senate.
Letter to Senator Alexander Ltr 4.5.25 Final by MyrtleBeachSC news
Requests to Senate Admit Final by MyrtleBeachSC news
Requests for Production Final Grooms and Goldfinch by MyrtleBeachSC news
S.534 is now on the Senate calendar and could hit the Senate floor as soon as THIS Tuesday, April 15th.
The same day this bill was filed, the SC Senate created a document from the “Sense of the Senate” which refers to a non-binding resolution that expresses the opinion of the Senate on a particular issue. This document states that the Senate will convene on Monday, April 21st for a hearing to allow Treasurer Loftis to “provide a defense to the causes for removal” regarding the $1.8 billion that has been explained in exhaustion throughout several Senate Finance Committee hearings over the past year.
The document designates Senators Grooms and Goldfinch to present the “causes of removal” and respond to any of Treasurer Loftis’s defense. While the Treasurer is allowed to be represented by counsel, the document states that he is not allowed to call any witnesses.
In a recent interview with FITSNews, Curtis Loftis states that his problems with the SC establishment began with the state retirement and investment system. This system created a $32 billion debt and was the largest debt of the state due to switching the retirement and investment system from the oversight of the SC Treasurer to a commission. The responsibility of this commission rested on the back of the SC Senate Finance Committee, the same committee that has led the charge against the SC financial leaders. According to Loftis, this debt is still being paid through your employer taxes.
When Loftis was elected as Treasurer, he exposed not only this impropriety but several other millions that had been mismanaged. Loftis states that not one person was fired or investigated, other than the Senate Finance Committee bringing Loftis himself into a hearing when he uncovered these issues: “They [Senate Finance] just want control of the…Treasurer’s office…they just want an appointee. Appointees keep their mouths shut.” Take a listen to the full interview HERE.
Loftis points out the main reason certain SC legislators are working so hard to remove him: “To paraphrase all of this, a quote from Donald Trump: they want your money, and I’m in between you and the money. I’m standing in the way and I don’t care what they say and what they do, I’m not leaving. I’m not letting them get that money.”
In this interview, Treasurer Loftis announces that he will now be seeking re-election as State Treasurer since all other qualified candidates he has spoken to do not want to go through the fight he has had to endure.
Contact your state senator and state representative and tell them to vote AGAINST S.534 (bill to remove State Treasurer Curtis Loftis) and S.35 (bill to appoint the Comptroller General position.)
South Carolina financial leaders like the Comptroller General and the Treasurer should be elected by the people. If they are handling your money, they should be responsible to you (the taxpayer,) not to the body of legislators who want to spend it.
Local News Via - MyrtleBeachSC.com
