Martha Shoffner, the treasurer of Arkansas, was arrested on Saturday for extortion, and is currently being held in Pulaski County Jail.
According to SF Gate, Shoffner was arrested by the FBI and she will now appear in federal court for a hearing on Monday.
Kimberly Brunell, an FBI spokeswoman, said that more details of the arrest and investigation will be released on Monday.
According to The Republic, Senator Jason Rapert said that three workers in Shoffner's office were responsible for bringing the allegations into the open.
According to The City Wire, Shoffner, was questioned about an early sale of bond transactions in her office, which surrounded a financial firm known as St. Bernard Financial Services.
Shoffner has denied that she has done anything wrong. If she is convicted, then she is expected to resign as treasurer.