A federal lawsuit against Madison County Treasurer Kurt Prenzler, and Madison County, has been dismissed. The suit was filed by James Foley, who was fired from the treasurer's office in 2010, shortly after Prenzler took office. Prenzler said Foley was fired for violating investment policy, while Foley contended the firing was politically motivated.
U.S. District Court Judge Patrick Murphy dismissed the suit last Friday citing lack of evidence. Neither side would comment on the ruling, other than Foley's attorney saying they were considering an appeal. Foley was accused by Prenzler in December of 2010 of investing $42-million in county money in bonds that were for longer terms that county policy allowed. Foley had previously made investments while working under former county treasurer's Fred Bathon and Frank Miles, and accused Prenzler of firing him over his politics. The judge also ruled Foley to pay court costs for the defendants.