Senator Lyman Hoffman failed to file complete financial disclosures, according to a decision by the Senate Committee on Legislative Ethics. The committee found that Senator Hoffman “knowingly” prepared and filed incomplete disclosures, leaving out a “substantial” amount of income. They say he knew that he consistently did not list the dollar amounts of his income and knew that it was required to do so. The amount of missing income was between $311,000 and $690,000, between 2008 and 2010.
The income related to Senator Hoffman’s partnership in Golden Eagle Unlimited, Inc., along with rental income, dividends, and interest from what the committee calls various sources. Golden Eagle is under contract with the Lower Kuskokwim School District for pupil transportation. The committee says he failed to list joint business ventures he shares with another legislator, although he noted that he had a “close economic association” with the lawmaker.
The investigation dates to November of last year. It involved 10 interviews and reviews of tax records, school board meetings, financial disclosures, and research on the companies Hoffmann is associated with.
Hoffmann appeared before the committee he said that more detail should have been provided. He added that he will be sure that sufficient information is provided in the future and will bring his tax records to Juneau.
The panel dismissed four other allegations against Hoffman.
There are no fines attached to this decision. Hoffman was fined $7,446 by the Alaska Public Offices Commission for incomplete disclosures for the same years. The senate committee supported that decision and suspended any fine that would have come with their finding.