Much of the $1.8 billion was found in a bank account only ever existed on paper, but legislators are left puzzled over how the mistake happened under Treasurer Curtis Loftis.

A South Carolina Department of Administration report revealed origins of a $1.8 billion accounting discrepancy that has puzzled lawmakers and residents alike.

South Carolina auditor George L. Kennedy has resigned Jan. 23 following allegations his office failed to report billions of dollars worth of accounting errors.

South Carolina State Auditor George Kennedy III and outside independent auditor Remi Omisore, a principal at CliftonLarsonAllen, speak to a Senate Finance subcommittee about the comptroller general’s office $3.5 billion financial reporting error. Joseph Bustos [email protected]

South Carolina lawmakers are calling for the state treasurer to be impeached after an independent audit found that a suspected $1.8 billion thought to be in a state bank account never existed. The results of the audit,

COLUMBIA, S.C. (WSPA) – George Kennedy, South Carolina’s State Auditor, resigned from office Thursday. Kennedy, who has served in the position since October 2015, sent a letter of resignation to Governor Henry McMaster and the State Fiscal Accountability Authority.

Copyright 2025 The Associated Press. All Rights Reserved. South Carolina Treasurer Curtis Loftis, left, looks at notes before speaking at a meeting of the Legislative ...

A South Carolina state auditor has submitted his resignation. George Kennedy sent a letter to the governor’s office on Thursday. Kennedy had served in the role of state auditor for nine years. PREVIOUS COVERAGE: South Carolina has $1.8B that lawmakers don’t know what to do with

An independent forensic audit has unveiled a $1.8 billion accounting oversight in South Carolina's state funds, dispelling hopes of a financial windfall. This discovery, rooted in past errors and compounded over years,

South Carolina’s mysterious $1.8 billion in a bank account doesn’t exist. That’s the answer to the nearly year-long questions of “Where did this money come from” and “Who does it belong to?” State Treasurer Curtis Loftis says he’s accounted for every single cent.

COLUMBIA, S.C. — An audit of South Carolina's state finances finds that the puzzling $1.8 billion account mostly never existed in the first place.

State Auditor George Kennedy's resignation follows the 2023 resignation of former Comptroller General Richard Eckstrom.