Wednesday, July 8, 2015

Steele Stephens sued for failure to pay fine in Shoffner case

Posted By on Wed, Jul 8, 2015 at 12:25 PM

Arkansas Business reports that the state Securities Department has sued former bond salesman Steele Stephens for failure to pay a $20,000 fine assessed after an investigation of his securities dealing with former Arkansas Treasurer Martha Shoffner.

Shoffner faces a federal prison sentence for taking money from Stephens in return for her office's bond business with him. He made some $2.4 million in commissions over the span of his dealing with the office. The criminal charges said he paid her some $36,000 in cash. He cooperated with the investigation and was never charged with a crime.

A Securities Department hearing officer concluded a review of Stephens on allegations including unsuitable investments and false information provided to the client by revoking his registration May 7 and assessing the fine. He also has been barred by national officials from the securities business. The state said Stephens had not paid the fine and asked for a court judgment for the amount of the regulatory ruling.


Tags: , ,

From the ArkTimes store

Favorite

Speaking of...

Comments (8)

Showing 1-8 of 8

Add a comment

 
Subscribe to this thread:
Showing 1-8 of 8

Add a comment

More by Max Brantley

Readers also liked…

  • State Police issues statement on Jason Rapert 'threats'

    The State Police have issued a minor clarification in what appears to be an effort to soothe an enraged Sen. Jason Rapert, exposed here as overly excited about both a Conway parking lot question from a constituent as well as some inflammatory Internet rhetoric that he's interpreted as a dire threat on his life. State cops took his reports seriously, they say. But in the end, they found nothing actionable.
    • Sep 15, 2015
  • Speaking of the Clinton Foundation: Returns in maize and beans

    A reporter for Politifact, the Pulitzer Prize-winning fact-checking organization, sent a reporter to Africa to see where money given to the Clinton Foundation has been put to work. He found tangible results.
    • Sep 6, 2016
  • The plight of the refugees: Dark episodes in Arkansas

    Ernest Dumas reaches into history, some personal, for moments in Arkansas's view of refugees. It was brought to mind by the current crisis in Europe and the political divisions over whether the U.S. should respond to the needs of the displaced.
    • Sep 22, 2015

Most Shared

Visit Arkansas

Brant Collins named Group Travel Manager for Arkansas Department of Parks and Tourism

Brant Collins named Group Travel Manager for Arkansas Department of Parks and Tourism

Collins to work toward increasing visitation to Arkansas by groups and promoting the state's appeal

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation