SC Business Scam Shocks Lawmakers

South Carolina lawmakers are considering an investigation of the S.C. Research Authority (SCRA) after it was revealed this week that the agency seized control of an $8 million fund specifically established for our state’s entrepreneurs and start-up businesses so that they could funnel the money to South Carolina’s three research universities.

The power play was engineered by House Speaker Bobby Harrell and his big government “Svengali” Larry Wilson – both of whom are eager to establish the Research Authority as the centerpiece of their new “economic development” efforts for the state.

Unfortunately, the gutting of funding for the SC Launch program has lawmakers and political insiders buzzing, and has prompted threats of investigations as well as a flood of new accusations.

One Representative who spoke with FITS on the condition of anonymity says he was misled by Research Authority personnel concerning the fund, while another lawmaker told us of a recent internal investigation conducted by the agency that cost taxpayers $500,000 but was never released to the public.

FITS is in the process of requesting access to this report under the state’s Freedom of Information Act.

Also, a source close to the agency has provided information corroborating an internal e-mail which we published excerpts from in our original story, and confirmed Harrell’s direct involvement in moving the $8 million, which was formally transferred in May of this year.

This source also tells us that Harrell was directly involved in forcing out former Research Authority Chairman Larry Druffel, who resigned from his post at the agency four years ago after being publicly embarrassed by Harrell – then House Ways & Means Chairman – at a state budget board meeting.

We wrote about Druffel’s “forced resignation” a few weeks ago, prior to these more recent revelations about the SC Launch scandal.

Stay tuned for much, much more, people …

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