Corrupt SC Pension Fund Leader Won’t Be Prosecuted
The S.C. State Law Enforcement Division (SLED) and the office of S.C. Attorney General Alan Wilson will not prosecute the corrupt leader of the S.C. Retirement System Investment Commission (SCRSIC), sources tell FITS.
Reynolds Williams - the leader of this ethically challenged, underperforming state pension fund – has been accused of numerous conflicts of interest in which he personally profited from decisions made by the commission.
Unfortunately, it appears as though he’s getting a hall pass …
“Based upon my review of (SLED’s) report and its attachments, this Office is declining to proceed with respect to the issues contained in the report,” deputy attorney general Allen Myrick wrote to the law enforcement agency earlier this month.
FITS is endeavoring to obtain a copy of the SLED report on Williams – one of many incriminating documents the agency has done its best to keep under wraps.
Sources close to the Attorney General’s office tell FITS that the SLED report contains many items that will “make your stomach turn” and “make you angry” – but that it contained no proof that Williams engaged in any illegal activity.
“We have to make the decision based on what we can prove in court,” our source said. “There was clearly wrongdoing, clearly unethical conduct … but we have to have a crime we can prove to prosecute.”
The source added that the state’s pension fund was “one of the worst-managed state agencies we’ve ever seen.”
Really? Wonder what gave that away …
Maybe it was the fact this fund – which recently doled out $1.4 million in bonuses to its top executives – consistently ranks in the bottom 25 percent of large public pension funds (despite paying the highest fees in the nation).
But hey … let’s permit them continue to operating in secret with $25 billion of public money.
What could possibly go wrong?
We’re disappointed in Wilson’s office for not moving this case forward, but we’re especially disappointed in SLED – which continues to go out of its way to accommodate the lawlessness of South Carolina’s corrupt elected officials, political appointees and bureaucrats.
Crap like this is why nothing ever changes in South Carolina …