Mystery as South Carolina discovers untouched secret bank account with $1.8 BILLION in it - and nobody knows where it came from

The state's top accountant, the elected Republican comptroller general, resigned last year when his department began duplicate posting funds in higher education accounts, resulting in an on-paper $3.5 billion miscalculation. 

Senator Larry Grooms, who is spearheading the investigation into this money mystery, said that his investigate panel still does not have information from the state treasure's office as to where the money was supposed to go.

'It's like going into your bank and the bank president tells you we have a lot of money in our vault but we just don't know who it belongs to,' said Grooms, according to AP.

Until the origin of the money is traced, Grooms proposed legislation that would allow him to move the large sum into a 'lockbox' account, where it will accrue interest.

The state's top accountant, the elected Republican comptroller general, resigned last year when his department began duplicate posting funds in higher education accounts, resulting in an on-paper $3.5 billion miscalculation. 

Republican treasurer Curtis Loftis claimed to have invested the funds in the mystery account and generated nearly $200 million in interest for the state 

Senator Larry Grooms, who is spearheading the investigation into this money mystery, said that his investigative panel still does not have information from the state treasury's office as to where the money was supposed to go

Until the origin of the money is traced, Grooms proposed legislation that would allow him to move the large sum into a 'lockbox' account, where it will accrue interest

The state's 2010 computer system shift was the initial cause of the issue.

State Senate leaders have stated that although investigative accountants are still working to sort through the chaos, it seems that money was moved from one place to another to assist balance the state's finances whenever they were out of balance. 

On Tuesday, the Senate approved a proposal, which is now going to the house, that would allow voters to decide whether to make the comptroller general an appointed position.

Unless the treasurer can own up to why the money in this account exists in the first place, that is.

State officials have not been provided with any information that would have revealed the source of the $1.8 billion, and the reason behind the bank account errors remains unsolved.

'It does not inspire confidence. But the good news is no money was lost,' Republican Governor Henry McMaster said.

Republican treasurer Curtis Loftis claimed to have invested the funds in the mystery account and generated nearly $200 million in interest for the state. 

State Senate leaders have claimed that money was moved from one place to another to assist balance the state's finances whenever they were out of balance

The Senate approved a proposal, which is now going to the house, that would allow voters to decide whether to make the comptroller general an appointed position

This raised concerns about Loftis's failure to inform the general assembly about the existence of money they had either set aside for state agencies or that may have been in a trust fund.

In a March 14 letter to Grooms, Loftis said not only was that not the job of his office, but that the comptroller general 'is attempting to shift responsibility to clean up its mess to the Treasurer.'

Loftis said that his team had investigated the account for thousands of hours and that they were refused access to material or a meeting with the Comptroller General's Office.