The current state treasurer is releasing the results of an independent investigation he ordered into activities by a top aide of the former state treasurer.
The internal review was performed by investigators at BakerHostetler at the request of Republican Treasurer Josh Mandel. The review looks into actions by Amer Ahmad, a deputy under Democratic former treasurer Kevin Boyce. Ahmad is serving 15 years in prison for exchanging state business contracts for kickbacks, and the federal Securities and Exchange Commission has fined a Boston bank for its involvement in the scheme. Boyce, who’s now a state representative, has repeatedly denied any role. But the review says – quoting here – “there were clear signs that something was rotten” and that other people in the treasurer’s office knew or should have known about the fraud. And the investigators recommend the office hire more people with financial expertise to avoid future scandals.