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Rosa Luxemburg

(28,627 posts)
Fri Jun 1, 2012, 11:34 PM Jun 2012

I 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

39 replies = new reply since forum marked as read
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I didn't know that ROMNEY was involved in a Medicare fraud? (Original Post) Rosa Luxemburg Jun 2012 OP
This needs to be in an ad. Control-Z Jun 2012 #1
Romney broke Medicare,,,, WCGreen Jun 2012 #2
There is an ad by AFSCME (inside) dmr Jun 2012 #3
So it is true! Rosa Luxemburg Jun 2012 #6
+1 freshwest Jun 2012 #4
Also Twitter & FaceBook patrice Jun 2012 #5
Why aren't the newspapers covering this in detail? Rosa Luxemburg Jun 2012 #7
Because too many of them are in Romoney's pocket ~ K and R goclark Jun 2012 #34
+1 million treestar Jun 2012 #38
K&R and Shared. patrice Jun 2012 #8
Y'ain't the only one. DCKit Jun 2012 #17
Isn't it interesting!: I keep meeting these GOVERNMENT employees, like Willard, who HATE government, patrice Jun 2012 #22
Today is the first of June Iwillnevergiveup Jun 2012 #9
Good Rosa Luxemburg Jun 2012 #10
It would take years to reveal them all. 5 months will only LibDemAlways Jun 2012 #15
If this is correct Rosa Luxemburg Jun 2012 #19
K&R n/t Lugnut Jun 2012 #11
Yep! progressoid Jun 2012 #12
kick Go Vols Jun 2012 #13
Wait, so they invested in a company that later went bankrupt? Beartracks Jun 2012 #14
Double- and Triple-cross+++ is the name of the Beast when you follow the money. Next up? patrice Jun 2012 #23
'Sterling' job at fraud mitt. Ichingcarpenter Jun 2012 #16
K & R malaise Jun 2012 #18
More vis, more vis!!! Scuba Jun 2012 #20
The media have been very quiet about this Rosa Luxemburg Jun 2012 #21
none Rosa Luxemburg Jun 2012 #39
Kickety kick n/t malaise Jun 2012 #24
Thanks for posting this. tosh Jun 2012 #25
Tweet as much as you can! Rosa Luxemburg Jun 2012 #27
Wow! It's a shame the MSM will ignore this. Vinca Jun 2012 #26
This plus hiding money offshore from taxes ought to be an utter disqualification for POTUS stevenleser Jun 2012 #28
Great! Rosa Luxemburg Jun 2012 #29
It's a BushCo hobby, like golf or poker. n/t EFerrari Jun 2012 #30
"Behind every great fortune lies a great crime" Egalitarian Thug Jun 2012 #31
Romney amuse bouche Jun 2012 #32
It will be the death of this country if he wins Rosa Luxemburg Jun 2012 #33
k&r . . . .n/t annabanana Jun 2012 #35
Every damn thing about this man's business and financial dealings scream "THIEF". Marie Marie Jun 2012 #36
They need to vet candidates Rosa Luxemburg Jun 2012 #37

goclark

(30,404 posts)
34. Because too many of them are in Romoney's pocket ~ K and R
Sat Jun 2, 2012, 09:48 PM
Jun 2012

Funny that it is just coming out.

Watch what happens ~ Mittens memory will go south and bingo ~ the story disappears.

patrice

(47,992 posts)
22. Isn't it interesting!: I keep meeting these GOVERNMENT employees, like Willard, who HATE government,
Sat Jun 2, 2012, 11:49 AM
Jun 2012

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)
9. Today is the first of June
Sat Jun 2, 2012, 01:17 AM
Jun 2012

That means there remain 5 more months of uncovering more lies/shenanigans/ripoffs/lawsuits/lawbreaking attributable to Romney.

LibDemAlways

(15,139 posts)
15. It would take years to reveal them all. 5 months will only
Sat Jun 2, 2012, 02:11 AM
Jun 2012

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.

Beartracks

(12,816 posts)
14. Wait, so they invested in a company that later went bankrupt?
Sat Jun 2, 2012, 01:59 AM
Jun 2012

Oh, I thought you were talking about the U.S. and Solyndra!! Whew!!! Never mind, nothing to see here, move along.

===================

patrice

(47,992 posts)
23. Double- and Triple-cross+++ is the name of the Beast when you follow the money. Next up?
Sat Jun 2, 2012, 11:58 AM
Jun 2012

Coastal real-estate.

 

stevenleser

(32,886 posts)
28. This plus hiding money offshore from taxes ought to be an utter disqualification for POTUS
Sat Jun 2, 2012, 01:31 PM
Jun 2012

This is unbelievable.

Thank you for posting.

Kicked and Recommended and posted to my FB page. (THe forbes article)

Marie Marie

(9,999 posts)
36. Every damn thing about this man's business and financial dealings scream "THIEF".
Sat Jun 2, 2012, 10:56 PM
Jun 2012

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.

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