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The chair of a Missouri House appropriations committee is demanding Treasurer Vivek Malek answer questions about the state’s involvement with Torch Electronics. The machines have been controversial for years, with some GOP lawmakers and state gaming officials arguing they are illegal gambling devices.
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The Missouri State Employees Retirement Fund reversed its previous decision to reject a divestment proposal from Treasurer Vivek Malek. One of the four legislators on the board accused Malek of playing politics with state investments to boost his 2024 election chances.
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Missouri State Treasurer Vivek Malek called on the State Employees Retirement System to sell off its investments in Chinese stocks and other securities as punishment for COVID-19, spy balloons and the fentanyl crisis.
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The attorney will become the first person of color to serve in a statewide office. Malek, who was appointed by Gov. Mike Parson, says he intends to run for the position at the end of this term.