LITTLE ROCK, Ark. (AP) - Arkansas Treasurer Martha Shoffner's office says she plans to appear before a legislative panel after lawmakers subpoenaed her for failing to show up to discuss an audit that raised questions over her office's investment practices.
Shoffner's office on Friday said she had a last minute scheduling conflict that prevented her from appearing before the Legislative Joint Auditing Committee - but that she would go to the panel's Monday hearing. The committee earlier Friday issued a subpoena for Shoffner after she said wouldn't be at the meeting to discuss the audit. It planned to issue a second subpoena to compel her attendance.
The audit found that Shoffner's office sold bonds from its investment portfolio before maturity and purchased similar bonds from the same brokers, resulting in a net loss of $58,172.
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