January 29, 2015
Matt Rourke, File/AP
Pennsylvania state Treasurer Rob McCord, seen voting in Bryn Mawr during his run for governor, announced on Friday he was resigning immediately.
The station reports that the probe is focusing on the alleged theft of campaign and other funds.
In his second term, McCord, 55, stepped down after six years in office. He fell to Gov. Tom Wolf in the Democratic primary of the Pennsylvania gubernatorial election.
As McCord prepares for his final day on Feb. 12, a statement from his office said the former venture capitalist plans to return to private industry.
"It has been the privilege of a lifetime to serve the citizens of the commonwealth as their elected state treasurer for the past six years," McCord wrote in a letter to Gov. Tom Wolf. "But with my goals at Treasury now achieved - and with a new governor now in office to appoint my successor - it is time for me to return to the private sector, where most of my life's work has been."
McCord's recent accomplishments in office included victory in a lawsuit against the NCAA to restore 112 wins to Penn State's football program and drop lingering penalties, as well as keeping a $60 million fine paid by the university in state to prevent child abuse.
It will now be up to Wolf to nominate McCord's successor, with Senate confirmation, to complete the term through the 2016 election.
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