Grant Maloy calls on Sammy Gibson to follow the law.
Gibson failed to disclose over half a million dollars on his legally required disclosure form.
For Immediate Release – July 7th, 2016
Florida law requires all candidates running for office to disclose their assets, liabilities and total net worth. The form signed by Gibson clearly states in the instructions to include Deferred Retirement Program (DROP) accounts. In addition, failure to make any required disclosure constitutes grounds for and may be punished by one or more of the following: disqualification from being on the ballot, impeachment, removal or suspension from office or employment, demotion, reduction in salary, reprimand, or a civil penalty not exceeding $10,000. [s. 112.317, F.S.]
DROP accounts are set up by some retiring government employees and that allows them to build up a large pension payment when they exit their jobs. According to the Florida Retirement System, in December of 2015, the date Gibson used to declare his net worth, his DROP account was worth $526,342. Gibson failed to include this, as required by law, on his financial disclosure form, which is a possible ethics violation.
“The Clerk and Comptroller office is the people’s oversight of our county tax dollars. It requires great attention to detail. Not listing over a half million dollars of assets and underreporting your net worth by 200% sounds like someone who should not be running for this office.” said Maloy.
Gibson eventually received a $585,150 check from the state pension fund and began to receive a taxpayer funded pension of $8,869 per month plus 3% annual increase. If elected, Gibson would be allowed to collect pension and Clerk salary at the same time to bring total taxpayer funded income of over $250,000 per year
To read the full press release click here.
To view page 1 of Sammy Gibson’s submitted disclosure click here.
To view page 2 of Sammy Gibson’s submitted disclosure click here.
To see a blank copy of the form, which on page 4 outlines the need to disclose any money in DROP, click here.
Lastly, below is a screenshot of 2 emails exchanged outlining Sammy’s account worth.