Monday, March 22, 2010

Boyce Banking Scandal Continues

State Democrat caught in Pay-to-Play???

In yet another scandal out of Treasurer Kevin Boyce's office, over the weekend the Cleveland Plain Dealer printed another investigative story on Kevin Boyce's handling of state banking contracts. This story reveals new facts verifying that Treasurer Boyce did in fact initiate talks to delay the designation of lucrative state banking contracts before the State Board of Deposit. The Plain Dealer also reported that the State Auditor's office added verification, explaining that "...the state treasurer's office raised the issue of delaying the designation decision..."

The Plain dealer had reported that Boyce has delayed awarding the lucrative, biennial designation of depositories for public funds, until April 29th – suspiciously a week after Boyce will file his April 22nd campaign finance report. This decision flies in the face of Ohio law (O.R.C. 135.12) which requires that by the third Monday in March, the Boyce-led State Board of Deposit designate which banks will serve as depositories for the billions of dollars of state funds. Postponing the decision until late April not only disregards state law, but also affords Boyce another six weeks to raise money from banks that are competing for the multi-million dollar contracts.This follows a July 2009 story from the Dayton Daily News, which caught Boyce awarding a $160,000 per year banking services contract to a bank that hosted a $30,000 fundraiser for him a week later.

In response to this sad situation, the Plain Dealer quoted State Representative, and candidate for State Treasurer Josh Mandel as saying: "Treasurer Boyce's actions here are part of a pattern of unethical behavior and questionable fundraising practices. As with every other scandal in Treasurer Boyce's office, he's refusing to take responsibility for his own actions."

1 comment:

We follow the "living room" rule. Exhibit the same courtesy you would show guests in your home.