LITTLE ROCK, Ark. (AP) — Arkansas lawmakers plan to issue a subpoena to the state treasurer to appear before a panel regarding an audit questioning her office's investment practices.
State Rep. Tim Summers told members of the Legislative Joint Auditing Committee on Friday that a subpoena would be issued for Treasurer Martha Shoffner to appear before the panel. The committee planned to discuss an audit reviewing bond investments by Shoffner's office last year.
It was not clear when the subpoena would be issued. Summers, who co-chairs the panel, announced that the subpoena would be issued after Shoffner did not appear at Friday's hearing.
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.
Copyright 2012 The Associated Press.