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Posts tagged
'Robert Keenan'

Securities complaint arising from Shoffner case settled for $25,000 fine

Robert Keenan, CEO of St. Bernard Financial, reports that the company has settled a complaint that the firm failed to properly supervise salesman Steele Stephens, who paid kickbacks to then-Arkansas Treasurer Martha Shoffner for millions in state bond business. Stephens cooperated in a federal investigation that led to a federal fraud conviction. She's awaiting sentencing.
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Hearing officer appointed in treasurer's office cases at Securities Commission

Arkansas Securities Commissioner Heath Abshure has appointed North Little Rock lawyer Jack Pruniski as a hearing officer to hear two cases growing out of controversial dealings between former Arkansas Treasurer Martha Shoffner and an Arkansas securities firm.
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Securities Department moving against firm that employed broker who benefited from Shoffner business

Arkansas Business reports that the Arkansas Securities Department is seeking to suspend or revoke the license of St. Bernard Financial, the Russellville-based securities firm that employed Steele Stephens during part of the time when he made $2.5 million in commissions from business with state Treasurer Martha Shoffner. The firm contends it has no culpability for Stephens' actions.

Sources identify Steele Stephens as informant in Shoffner case

I hinted earlier that evidence was mounting that the securities salesman who provided confidential information to the FBI was Steele Stephens, the broker who began enjoying a huge share of Treasurer Martha Shoffner's bond business in 2010.
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Robert Keenan says no link between his firm, salesman and charge against Martha Shoffner

I've already mentioned this in the main item about the charge against Martha Shoffner, but I thought it was worth a separate mention given rampant speculation on who the government's confidential source in the securities business was that made payments to Shoffner and then wore a wire to gather incriminating information.

UPDATE: 'Whistleblower' at treasurer's hearing; caution for security firm

As we move toward state Treasurer Martha Shoffner's belated meeting with the Legislative Audit Committee over his office's investment practices, it's a good time to share a letter from the Arkansas Securities Department to Robert Keenan Jr. and Steele Stephens and their St. Bernard Financial Services of Russellville, a small securities dealer that has done hundreds of millions of dollars worth of bond transactions with the treasurer's office, including some of those questioned in the recent audit.
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Brokers defend work with state Treasurer Shoffner

I still haven’t heard back from State Treasurer Martha Shoffner to talk about her office’s investment practices.
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