Republican Comptroller Resigns After $3.5 Billion Accounting Error

Friday, March 24, 2023

South Carolina's embattled top accountant will step down next month after a $3.5 billion error in the year-end financial report he oversaw, according to a resignation letter written Thursday that was obtained by The Associated Press.

Posted by reinheitsgebot at 11:33 PM | 20 COMMENTS | permalink | Comment on This Entry |

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Many people are saying he is resigning to a billion dollar mansion in Costa Rica.

Many people.

#1 | Posted by Nixon at 2023-03-24 08:42 AM | Reply

"State officials testified that Eckstrom ignored auditors' yearslong warnings of a "material weakness" in his office and flawed cash reporting."

Thats one way to steal $3.5 Billion.

#2 | Posted by Nixon at 2023-03-24 08:46 AM | Reply

This is what happens when you put "Know It All" Republican Boomers in charge. It was pointed out for years that something wasn't right and he ignored it.

#3 | Posted by Sycophant at 2023-03-24 10:30 AM | Reply

This is what happens when you put "Know It All" Republican Boomers in charge. It was pointed out for years that something wasn't right and he ignored it.

#4 | Posted by Sycophant at 2023-03-24 10:30 AM | Reply

"It was pointed out for years that something wasn't right and he ignored it."

I'm guessing that nobody knew better what "wasn't right" about the numbers than he did. Can't wait to see how far and wide he distributed $3.5B.

#5 | Posted by Hagbard_Celine at 2023-03-24 10:34 AM | Reply | Newsworthy 1

Where is the 3rd party auditing firm on this?

Did they catch these mistakes?

Pure pure negligence on the State's part.

If they were a private company, they would have been sued for this.

#6 | Posted by eberly at 2023-03-24 10:37 AM | Reply

Only a Republican could "oops" $3,500,000,000.

#7 | Posted by snoofy at 2023-03-24 01:22 PM | Reply

Error or coverup

#8 | Posted by ChiefTutMoses at 2023-03-24 02:08 PM | Reply

Republicant "math".

#9 | Posted by LegallyYourDead at 2023-03-24 08:28 PM | Reply

"Error"

This is the type of Banana Republic ---- the Republicans want to be the norm.

#10 | Posted by jpw at 2023-03-24 11:39 PM | Reply | Newsworthy 2

@#10 ..."Error" ...

Yeah but you have to understand, the Republican view of Democrats is, at best...

Ian Dury And The Blockheads - Sex & Drugs & Rock & Roll
www.youtube.com

So, anything is better than that.

Even this apparent $3.5billion accounting error.

#11 | Posted by LampLighter at 2023-03-25 12:00 AM | Reply

Eckstrom...I didn't realize decimal points were that big of a deal...

atty. I don't think that's going to work as a defense

#12 | Posted by rhymegunfighter at 2023-03-25 12:26 AM | Reply

@#6 ... Pure pure negligence on the State's part. ...

Sure, blame it on the state, and not the person.

Why do you want to protect the person?

I mean, rally....

#13 | Posted by LampLighter at 2023-03-25 01:38 AM | Reply

"A billion here, a billion there, and pretty soon you're talking real money."
- Sen. Everett Dirksen

#14 | Posted by TrueBlue at 2023-03-25 05:20 AM | Reply

"I'm guessing that nobody knew better what "wasn't right" about the numbers than he did. "

#5 | POSTED BY HAGBARD_CELINE

BINGO, Hagbard!

#15 | Posted by Twinpac at 2023-03-25 06:38 AM | Reply

-Sure, blame it on the state, and not the person.

It goes without saying the person is to blame. He should face at least civil penalties and even criminal. That should be investigated.

But it's an entire system that failed. A long process is to be followed with checks and balances....and it was ignored.

And I assure you there are more guilty people involved with this size of screwup.

#16 | Posted by eberly at 2023-03-25 08:43 AM | Reply

Should have hired that smarter black accountant.
Just kidding....its South Carolina.

#17 | Posted by Docman at 2023-03-25 08:52 AM | Reply

"A long process is to be followed with checks and balances....and it was ignored."

Many people are saying that ignoring checks and balances is the basis of the new Trumpy Party platform. That's what many people say.

#18 | Posted by donnerboy at 2023-03-25 01:56 PM | Reply

Where is the 3rd party auditing firm on this?

Did they catch these mistakes?

Pure pure negligence on the State's part.

If they were a private company, they would have been sued for this.

#6 | Posted by eberly

In other words, how can we play eberly's favorite game, finding a democrat to blame for a republican-created problem?

#19 | Posted by SpeakSoftly at 2023-03-26 02:16 PM | Reply

"Pure pure negligence on the State's part."

Malfeasance. Probably negligence too, but what you describe is deliberate.

#20 | Posted by snoofy at 2023-03-26 02:18 PM | Reply