Ethics board drops complaint against Rastetter

Published On: Aug 23 2012 04:16:35 PM CDT   Updated On: Aug 23 2012 04:09:36 PM CDT

DES MOINES, Iowa (AP) -- State ethics regulators have dismissed an ethics complaint filed against Iowa Board of Regents member Bruce Rastetter, saying there weren't sufficient legal issue to investigate.

The Iowa Ethics and Campaign Disclosure Board, meeting in Des Moines on Thursday, voted unanimously to dismiss the complaint.

Iowa Citizens for Community Improvement, a government watchdog group, filed the complaint against Rastetter, a prominent Republican businessman, on June 19.

The complaint alleges Rastetter misrepresented himself on financial disclosure forms by failing to list investments and income he gets from executive positions at corporations he oversees.

Rastetter on Monday filed an amended financial disclosure statement.

Iowa CCI also claims he tried to use his influence as a regent to financially benefit one of his companies that is developing farmland in Africa.