November 10, 2004
"The Attorney General has violated the public trust in this indisputable case of conflict of interest," said Senator French. "Gregg Renkes used his high profile appointed position with the state to promote a company he owns stock in. At the same time, Renkes stood silent at a State press conference when asked about investors in KFx. This behavior is unbecoming of the Governor's top legal advisor. And worse, it's just plain illegal."
At issue is General Renkes' close ties with Denver-based coal technology company KFx. The Attorney General held roughly $100,000 in KFx stock while brokering a deal to sell Alaska coal to Taiwan using KFx technology. General Renkes traded and purchased KFx stock while he drafted and signed a Memorandum of Understanding between the State of Alaska and high-ranking government representatives from Taiwan the MOU specifically touted KFx technology.
Governor Murkowski last month appointed a special investigator to look into the matter, but Tuesday Senator French called on Renkes to put the issue to rest.
"It's time for General Renkes to resign," said Senator French. "The decisions he made over the course of the last year are so far afield of what we expect from an Attorney General, he shoud step down today. And if he himself doesn't resign, Governor Murkowski should ask for his resignation."
Source of News: