Video: Candidate for S.C. Treasurer blasts incumbent

Curtis Loftis, a Lexington businessman seeking to unseat Treasurer Converse Chellis in the Republican primary, launched his campaign at noon Wednesday with a full-on attack on his opponent at an event in Myrtle Beach.

Speaking to a crowd of a dozen or so on the patio of TBonz Gill and Grill, Loftis criticized Chellis for being selected by the S.C. legislature in the aftermath of former Treasurer Thomas Ravenel's cocaine arrest. Loftis then spoke extensively about a series of TV advertisements featuring Chellis that Loftis said were financed with state money.

The Chellis campaign has yet to reply to an email query about the accusations.

Update: Michael Wright, manager of the Chellis campaign, just sent the following response:

"It's unfortunate that Mr. Loftis is making these false statements. His complete lack of knowledge regarding the operations of the State Treasurer's Office is staggering. The fact that he is not a CPA and has no financial training or background is really beginning to show. 100% of the money used to advertise the Future Scholar 529 College Savings Program comes from the Bank of America. Treasurer Grady Patterson signed the contract with the bank nine years ago which mandates that the bank spend their money on advertising. In fact, 100% of all costs for the program are paid for by non-public and non-taxpayer dollars....including pencils and paper. The Program is a win for families trying to save for college and a win for South Carolina taxpayers."

Speaking to a crowd of a dozen or so on the patio of TBonz Gill and Grill, Loftis criticized Chellis for being selected by the S.C. legislature in the aftermath of former Treasurer Thomas Ravenel's cocaine arrest. Loftis then spoke extensively about a series of TV advertisements featuring Chellis that Loftis said were financed with state money.

The Chellis campaign has yet to reply to an email query about the accusations.

Update: Michael Wright, manager of the Chellis campaign, just sent the following response:

"It's unfortunate that Mr. Loftis is making these false statements. His complete lack of knowledge regarding the operations of the State Treasurer's Office is staggering. The fact that he is not a CPA and has no financial training or background is really beginning to show. 100% of the money used to advertise the Future Scholar 529 College Savings Program comes from the Bank of America. Treasurer Grady Patterson signed the contract with the bank nine years ago which mandates that the bank spend their money on advertising. In fact, 100% of all costs for the program are paid for by non-public and non-taxpayer dollars....including pencils and paper. The Program is a win for families trying to save for college and a win for South Carolina taxpayers."