South Carolina Lt. Gov. Ken Ard announced his resignation today, in the wake of a criminal investigation into how he spent campaign funds and after an ethics committee fined him $72,000 for how he spent those funds.
According to reports, Ard improperly used campaign money to buy a Sony (NYSE:SNE) PlayStation 3, two of Apple‘s (NASDAQ:AAPL) iPads, a flat-screen TV, and to pay for wife’s cell phone bill, among other things. He allegedly spent $3,000 at Best Buy (NYSE:BBY) on the Playstation, iPads, and TV, and over $12,000 overall in improper purchases. Read