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Posts tagged
'Steele Stephens'

Witnesses begin in Martha Shoffner trial

Testimony has begun in the trial of former Arkansas Treasurer Martha Shoffner, accused of taking $36,000 in cash from bond broker Steele Stephens in return for steering significant state bond business to him.
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Shoffner's broker friend revealed in open court

The trial of former Arkansas Treasurer Martha Shoffner begins with pre-trial motions and jury selection today in federal court in Little Rock. For the first time in an official forum, though not here, Steele Stephens was identified as the broker cooperating in the government's case.
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Government files more details on former Treasurer Shoffner's use of campaign money

The U.S. attorney's office yesterday filed more details of evidence it hopes to introduce into former Arkansas Treasurer Martha Shoffner's trial on taking money for state bond business. It details her alleged illegal use of campaign money for personal expenses, plus gifts from a favored broker.

Securities Department responds to GOP pressure for more investigation of Shoffner case; evidence insufficient so far

Arkansas Republicans aren't through milking the opportunity given by federal charges against former Treasurer Martha Shoffner, a Democrat, for taking cash payments from a securities dealer who did a huge amount of business with Shoffner's office.
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UPDATE: Judge rejects guilty plea from Martha Shoffner after she fails to acknowledge elements of charge

Judge Leon Holmes rejected former Treasurer Martha Shoffner's guilty plea today after she refused to acknowledge that was influenced in state investment decisions by money she received from a securities broker.

Former Arkansas Treasurer Martha Shoffner expected to enter plea on extortion charge

What's known as a "felony waiver" hearing has been scheduled at 2 p.m. today in Federal District Judge Leon Holmes' courtroom for an as-yet-unnamed criminal defendant.
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Another state treasurer in corruption probe

Speaking of former Treasurer Martha Shoffner, accused of taking kickbacks for steering huge sums of state bond business to the broker making the payments: Here's another former state treasurer ensnared in a public corruption case, Tim Cahill of Massachusetts.

Salesman in Shoffner probe resigns from securities firm

Steele Stephens, the securities salesman whose large share of state Treasurer Martha Shoffner's state bond investments triggered a federal investigation that led to a criminal charge against her, yesterday submitted a resignation by fax to his employer, St. Bernard Financial Services, based in Russellville.
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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.

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.
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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.

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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