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Friday, December 19, 2014, 11:32 a.m.
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Broker details $2 million in Arkansas commissions

By The Associated Press

This article was originally published March 10, 2014 at 7:12 a.m. Updated March 10, 2014 at 11:41 a.m.

Arkansas Democrat-Gazette/BENJAMIN KRAIN --2/27/2014-- Former Arkansas Treasurer Martha Shoffner enters the federal courthouse Thursday morning in Little Rock for a arraignment on mail fraud.

A broker who says he gave $36,000 to Arkansas' former treasurer to aid her during a rough patch in her life said he received more than $2 million in commissions for business he did for the state.

Under questioning by government lawyers in Martha Shoffner's corruption trial Monday, bond dealer Steele Stephens, who is not affiliated with investment house Stephens Inc., acknowledged he benefited by giving her money. He eventually received about twice as much state business as any other broker. As he wrapped up his testimony for the prosecution, he said he received about $2.5 million in commissions over the four years he was making payments to Shoffner.

Defense attorney Chuck Banks was to begin questioning Stephens later Monday morning.

Shoffner faces 14 bribery and extortion counts and has pleaded innocent. She resigned last year.

Read more in Tuesday's Arkansas Democrat-Gazette.

Comments on: Broker details $2 million in Arkansas commissions

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mhck52 says... March 10, 2014 at 8:33 a.m.

She must use Lois Lerner's beautician.

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NEARH says... March 10, 2014 at 11:46 a.m.

Oh no mhck52....she can't afford that - remember - she has a mortgage and car payment!!

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RegEn4cer says... March 10, 2014 at 12:06 p.m.

I think that the real "rough patch" is about to begin, IF justice is served.

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LevyRat says... March 10, 2014 at 2:56 p.m.

Typical lying thieving LIBERAL TAX AND SPEND DEMOCRAT .... this stupid old crone ran for and was elected to a job which required her to live in Little Rock. Did she ever consider that she would have living expenses?

You would think if you wanted to be State Treasurer, you would at least be able to prepare a household budget. But why would she, when she could take money under the table.

Rough patch = not being able to steal enough to maintain two residences.

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Indian08 says... March 10, 2014 at 4:27 p.m.

LevyRat, would you like a list of Republican office holders who pulled similar dumb stunts? We could start with Mark Darr and go backward. Fools and thieves comes in all colors, genders and political parties.

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roadhawg28 says... March 10, 2014 at 5:11 p.m.

What I want to know is, was the $2.5 Million seized and returned to the taxpayers of Arkansas or has this Stephens fellow gotten off the hook?

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nwar says... March 10, 2014 at 6:51 p.m.

Shoffiner is pretty obviously dirty. But maybe we should also be asking why this "investment guy" who bribes people, gets paid $2.5 million n taxpayer dollars over 4 years. Think he is worth that?

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Populist says... March 10, 2014 at 9:26 p.m.


I met this woman when I was involved in Republican politics. This sort of nonsense goes on every day. All sorts of spending occurs and it is not for the public benefit.

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Dontsufferfools says... March 10, 2014 at 11:24 p.m.

Seems to me the wrong person is on trial. She should be testifying against him. She carted off 36K he got 2.5M. Wait, was the apple pie from Diane's?

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Populist says... March 11, 2014 at 6:52 a.m.

I'd like to see some of the commissions and payouts on the Northeast Arkansas steel mill. Lots of taxpayer money will be making the rounds there.

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