Loopholes allowed for risky investments for tax dollars

Loopholes allowed for risky investments for tax dollars
Financial analysts say there's been risky investment and it could affect you. (Source: (KARK))

LITTLE ROCK, Ark. (KAIT) -The state of Arkansas has received a record amount of returns in investments, but your tax dollars could be at risk.

According to a report from NBC affiliate KARK, the state treasury department has invested almost half of its funds into just two accounts, which could lead to disaster.

While the payoff has netted record returns, analysts say that could lead to a significant risk.

“This past fiscal year we returned the most money that’s ever been returned to Arkansas,” Treasurer Dennis Milligan said. “There’s been no violation of policy let me make that very, very clear.

Financial analysts said they found problems with the state’s current investment strategy and recommended changing rules.

The Board of Finance’s vote to change policy was unanimous and the investing strategy change will begin immediately.

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