VRS bought Star Scientific stock, sold it at $87,000 loss

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VRS bought Star Scientific stock, sold it at $87,000 loss
http://www.dailyprogress.com/news/vrs-bought-star-scientific-stock-sold-it-at-loss/article_502095ba-f0e2-11e2-b1db-0019bb30f31a.html

Posted: Friday, July 19, 2013 10:15 pm

VRS bought Star Scientific stock, sold it at $87,000 loss BY JIM NOLAN and MICHAEL MARTZ Richmond Times-Dispatch The Daily Progress

Gov. Bob McDonnell insists that Jonnie Williams Sr. and his company, Star Scientific, have not received any public funds, grants or contracts during his administration.

But that doesn't mean that the troubled Henrico-based dietary supplement maker has not benefited from state investment.

Last year, the Virginia Retirement System purchased — and sold at a loss -- 71,900 shares of Star Scientific stock over a three-month period, VRS head Robert P. Schultze confirmed to the Richmond Times-Dispatch Friday.

Schultze said the $58 billion pension system found no evidence that the governor or any member of his administration influenced its purchase and sale of the Star stock. He said it was the result of decisions made by a VRS investment team using a computer trading program to assess stocks.