Securities complaint arising from Shoffner case settled for $25,000 fine
Robert Keenan, CEO of St. Bernard Financial, reports that the company has settled a complaint that the firm failed to properly supervise salesman Steele Stephens, who paid kickbacks to then-Arkansas Treasurer Martha Shoffner for millions in state bond business. Stephens cooperated in a federal investigation that led to a federal fraud conviction. She's awaiting sentencing.