South Carolina Probes Mysterious $1.8 Billion Bank Account

Officials seek to unravel the origins and purpose of the substantial funds amid a backdrop of state accounting issues.

South Carolina officials are investigating a mysterious bank account containing $1.8 billion, with origins and intended purposes unknown.
The discovery follows a history of accounting issues in the state, including a $3.5 billion double posting error in higher education accounts.
Republican Treasurer Curtis Loftis invested the funds, generating nearly $200 million in interest, but faced criticism for not informing the General Assembly.
A senate panel led by Republican Sen. Larry Grooms is leading the investigation, with both the current and former comptrollers general under scrutiny.
Governor Henry McMaster has stated there's no rush to spend the funds until more is understood about their origins and intended use.