South Carolina discovers $1.8bn unaccounted funds in a bank account, sparking investigation.
South Carolina has discovered an unaccounted $1.8 billion in a bank account. The origins of the funds and their intended destination remain unknown, as state and private accountants continue to investigate. The issue adds to the state's recent financial woes, coming after the top accountant resigned due to double posting errors in higher education accounts that led to a $3.5 billion paper error during a decade-long transition to a new accounting system.
March 27, 2024
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