General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsI didn't know that ROMNEY was involved in a Medicare fraud?
Medicare Fraud That Made Him Rich
In 1989, Romney led Bain Capital's purchase of Damon Corp., a medical testing company, and took a seat on the Board of Directors to better manage it. During Romney's four years, Bain tripled its investment, and Romney personally made $473,000 -- while Damon plumped its profits with Medicare fraud (running thousands of medical tests doctors didn't want, and billing Medicare for them). The company pled guilty to crimes committed during his tenure and paid a record fine of $119 million. Company President Joseph Isola pleaded no contest to fraud, and a vice president was also convicted.
Romney claims he "uncovered" the fraudulent claims and "took corrective action," but court records show that he did not notify prosecutors or stop the fraudulent billing. He just asked company lawyers what changes they could make to avoid prosecution, after the feds' LABSCAM prosecution targeted a different medical testing firm. The cheating continued, prosecutors say, until the day Bain sold the company to Corning. Furthermore, Damon Corp. was required to list in various SEC filings any significant legal risks it faced. Romney made no mention of the fraud he "uncovered," even though it led to a $119 million fine, the largest in history. Damon Corp. is another Bain acquisition that later went bankrupt, killing over a thousand jobs -- but not before Bain made $7.4 million in profit.
http://www.realchange.org/romney.htm
Control-Z
(15,682 posts)Big. Loud. On every television in America.
WCGreen
(45,558 posts)dmr
(28,347 posts)Rosa Luxemburg
(28,627 posts)villain
patrice
(47,992 posts)Rosa Luxemburg
(28,627 posts)goclark
(30,404 posts)Funny that it is just coming out.
Watch what happens ~ Mittens memory will go south and bingo ~ the story disappears.
treestar
(82,383 posts)This ought to get at least as much attention as Solyndra.
patrice
(47,992 posts)DCKit
(18,541 posts)Jeebus, and I thought W* was a piece of work.
patrice
(47,992 posts)which I suppose they have a right to their feelings, but the ALSO resent regulation and control of any kind, even though they work for government. Why do they hate regulations, because, as we see in this example, they have to pay people to do somekind of work-around for them, or defend them in court, instead of just stealing the money outright.
Iwillnevergiveup
(9,298 posts)That means there remain 5 more months of uncovering more lies/shenanigans/ripoffs/lawsuits/lawbreaking attributable to Romney.
Rosa Luxemburg
(28,627 posts)LibDemAlways
(15,139 posts)allow for scratching the surface. Considering the size of his bank account, you have to figure he's been a big time crook for many decades.
Rosa Luxemburg
(28,627 posts)why isn't he being investigated?
Lugnut
(9,791 posts)progressoid
(49,991 posts)Spread the word!
Go Vols
(5,902 posts)Beartracks
(12,816 posts)Oh, I thought you were talking about the U.S. and Solyndra!! Whew!!! Never mind, nothing to see here, move along.
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patrice
(47,992 posts)Coastal real-estate.
Ichingcarpenter
(36,988 posts)kick nominated.
malaise
(269,063 posts)for the world to see
Scuba
(53,475 posts)Thanks for posting.
Rosa Luxemburg
(28,627 posts)Rosa Luxemburg
(28,627 posts)I guess I won't hold my breath!
malaise
(269,063 posts)tosh
(4,423 posts)The country needs to know.
Rosa Luxemburg
(28,627 posts)Vinca
(50,279 posts)stevenleser
(32,886 posts)This is unbelievable.
Thank you for posting.
Kicked and Recommended and posted to my FB page. (THe forbes article)
Rosa Luxemburg
(28,627 posts)Voters should be made aware of this
EFerrari
(163,986 posts)Egalitarian Thug
(12,448 posts)I'm still waiting to see the exception this maxim.
K&R
amuse bouche
(3,657 posts)is creepier and scarier than Dumbya
Rosa Luxemburg
(28,627 posts)we would be doomed
annabanana
(52,791 posts)Marie Marie
(9,999 posts)So, his only action was to try to avoid prosecution? We already know that he lacks the empathy gene but the ethics gene is also MIA. Lying, scamming and stealing - his church must be so proud. Just another religious hypocrite.
Rosa Luxemburg
(28,627 posts)Has a presidential candidate been arrested just before the election?