Ark. Treasurer Accused of Taken Cash Payments Hidden in Pie Box

Martha Shoffner


The state treasurer of Arkansas was accused Monday with taking thousands of dollars in cash payments sometimes hidden in a pie box from a broker who became the manager of a large share of the state's stock portfolio.

Martha Shoffner, a Democrat, accepted at least $36,000 according to federal prosecutors, the Associated Press reports:

Federal prosecutors allege Shoffner accepted $12,000 a year from a broker who would sometimes deliver cash in a pie box, pie included. The broker is cooperating with investigators. […]

An affidavit filed in Little Rock federal court said a broker — unidentified in court documents — would roll up money in $6,000 increments and have it delivered to Shoffner's office in a pie box. The document, by FBI Special Agent Richard McLain, said the broker has been granted immunity in exchange for his or her cooperation.

Shoffner was criticized in a legislative audit last year for bond sales that blocked the state from earning more than $400,000.