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Ex-State Treasurer Given Sentence of Three Years of Probation

(Phoenix, Ariz. – Dec. 11, 2006) Arizona State Treasurer David Petersen today was sentenced to three years of supervised probation and a $4,500 fine by Maricopa County Superior Court Judge James Keppel. Petersen resigned his office Nov. 30 as part of the plea agreement entered into with the Attorney General’s Office.

In October, Petersen pleaded guilty to one count of knowingly filing a false or incomplete financial disclosure statement.

Petersen was charged with failing to disclose 2005 income exceeding $1,000 that he earned from selling character training materials. The complaint also charged him with not revealing his relationships with several non-profit corporations for which he held an office or a fiduciary position. These include the Arizona Communities of Character Council, Inc., Arizona Council on Economic Education and Area V Community Asset and Resource Enterprise Partnership.

The Attorney General’s Office began investigating the Treasurer’s office in February 2006 after employees raised questions about Petersen.