COLUMBUS, Ohio - State Treasurer Joseph Deters should disclose all the details of his relationship with a Cleveland investment banker suspected of swindling clients out of millions of dollars, Deters' Democratic opponent in the November election said Thursday.

The (Cleveland) Plain Dealer reported on Wednesday that a fund-raiser for both Deters and the Hamilton County Republican Party solicited a $50,000 contribution for a party fund from Frank Gruttadauria.

Gruttadauria, 44, of Gates Mills in suburban Cleveland, is being investigated because of allegations that he swindled wealthy investors by diverting account statements to his post office box and replacing them with statements that falsified account information over several years.

He has been in the Trumbull County jail in Warren since shortly after surrendering to the FBI on Feb. 9 after nearly one month as a fugitive.

Gruttadauria, who is suspected of conducting a 15-year scam while working as a broker for Lehman Brothers and SG Cowen, has been charged with making false statements to a financial institution. Federal authorities say more charges are possible. People who invested with him may have lost as much as $277 million.

Mary Boyle, Deters' challenger for re-election, said Deters should fully disclose his relationship with Gruttadauria.

The Plain Dealer reported that the $50,000 contribution was made before Gruttadauria completed trades worth $5.9 billion for the state treasurer's office.

"There is the implication that you pay to play with the sate treasurer's office," Boyle said. "One of the ways my opponent in this race can put this to rest is to disclose (his relationship with Gruttadauria)."

Deters campaign spokesman Matt Borges said the contribution had no connection to Gruttadauria's work for the state.

"They met socially a few times. They never once discussed campaign contributions," Borges said.