January 30, 2015

State Treasurer Rob McCord To Plead Guilty To Federal Charges, Resigns Immediately

State Treasurer Rob McCord issued a statement Friday through his attorneys admitting he is intending to plead guilty to federal charges stemming from his gubernatorial campaign fundraising efforts last year.  He resigned then said he would resign immediately effective January 30.
McCord told two potential campaign contributors in spring of 2014 that he could make it difficult for them to do business with the Commonwealth if they failed to contribute.
This makes the second statewide row office holder put under a cloud.  A grand jury report recommended earlier in the month that Attorney General Kathleen Kane be indicted on leaking material from a grand jury report.
Thursday McCord submitted a letter of resignation to Gov. Tom Wolf saying, “It has been the privilege of a lifetime to serve the citizens of the Commonwealth as their elected State Treasurer for the past six years.  But with my goals at Treasury now achieved-- and with a new Governor now in office to appoint my successor-- it is time for me to return to the private sector, where most of my life’s work has been.”
His resignation was to be effective February 12.
Gov. Wolf will now appoint a replacement who must be confirmed by the Senate.
Video: McCord Admits He Broke The Law