Over the last 31 years, 18 state treasurers around the country or their employees have been indicted on various charges.
The most recent cases are in New Mexico, where nine current and former treasury employees have been in trouble with the law.
Treasurer Robert Vigil and his predecessor Michael Montoya were arrested late last year and charged with receiving nearly $700,000 in kickbacks from investment advisers who brokered state investments at Mr. Montoya’s discretion.
Three investment advisers also have been indicted.
In 1985, New Mexico Treasurer Earl Hartley resigned after pleading guilty to misdemeanor malfeasance and neglect of duty for misusing $4,300 that had been collected for a conference of state treasurers.
A Hartley deputy and investment adviser were convicted of extortion.
In 1975, New Mexico Treasurer Jesse Kornegay pleaded guilty to perjury.
In Texas, current U.S. Senator Kay Bailey Hutchinson and former treasurer of that state was twice indicted but acquitted of official misconduct and records tampering. Also in that state, Treasurer Warren G. Harding pleaded no contest in 1985 to two felony counts of official misconduct. Sentencing information was not available.
Wendi Lynn Davis, a Maryland state treasury specialist, was indicted on charges of embezzling $52,000.
Kentucky State Treasurer Jones Mills was found not guilty in 1984 of a 25-count indictment for theft, misuse of state employees and official misconduct.
In Illinois in 1992, former state treasurer Jerry Cosentino pleaded guilty to bank fraud and was fined $5,000 and placed in home confinement for nine months.
In the early 1960s, Leo Winters, who went from Oklahoma’s treasurer to lieutenant governor, was indicted on charges of obtaining favorable loans from banks in exchange for state deposit funds. He was acquitted on all counts.
Nebraska Treasurer Lorelee Byrd resigned from office last January after pleading guilty to misdemeanor misconduct. The Nebraska Legislature had discussed impeaching her.
Although not charged with any offense, Ron Ross, who was appointed to replace Ms. Byrd, has been under fire for cronyism in hiring.