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SC’s top accountant to resign after $3.5B accounting error

South Carolina’s top account Richard Eckstrom says he will resign effective April 30 after disclosing to state lawmakers that he inflated the state’s cash balances by about $3.5 billion.

In a Thursday resignation letter to Gov. Henry McMaster, the comptroller general reiterated his advocacy that the Legislature move forward on legislation to make his position appointed by the governor, rather than elected every four years by the voters.

“Over the course of my time in public office I have taken great pride in the responsibility trusted to me,” Eckstrom wrote in his letter, obtained by The State Media Co. “I have been humble in my approach to the job an attribute I hope our constituents have recognized and will remember.”

Eckstrom was first elected comptroller general in 2002 and last reelected in 2022 after running unopposed.

Eckstrom’s resignation comes amid calls for his impeachment by some House members. A group of senators have also proposed removing him from office for willful neglect of duty.

Eckstrom’s early resignation means he will avoid a trial in the Senate, a hearing legislators were soon going to announce.

This is a developing story. It will be updated.