House Speaker Ben Toma
Mary Jo Pitzl
Arizona Republic
A company in which state House Speaker Ben Toma has a financial interest has acquired majority ownership of Runbeck Election Services, which provides election services to many Arizona counties.
Toma said early Tuesday afternoon he had no part in the transaction and, less than two hours later, he said he planned to divest himself of his financial stake in Black Mountain Investment Company, which is run by his brother, Mihai Toma.
A spokesman for the speaker said he made the decision to avoid any potential or perceived conflicts of interest.
Toma said he only learned about the investment shortly before the Aug. 18 acquisition by Lincoln Shields, a subsidiary of Black Mountain Investment.
“I have a very, very tiny part of Black Mountain; by no means do I have control or influence over the company,” Toma, R-Glendale, told The Arizona Republic on Tuesday.
