Working to Restore Trust

Loftis violates Ethics Reform Act: fined $500 for enriching friend by $2 million

So I was reading over the ethics violation decision and order for our current SC Treasurer, Loftis Decision and Order, and the facts and timeline are highly detailed.    The thing that gets me is that he pulled his fraternity brother into a deal that paid $2 million and the Treasurer gets a fine of $500?  According to the statute, a $500 fine might be what one violation costs under law, but in my mind, there is no balance.  The loss to the state retiree pension fund, if we look at only the enrichment of a friend, to the actual fine for enriching a friend is: .025%

Loftus Guilty