Skip to comments.Romney Was Manager and Board Member of Corp Guilty of Medicare Fraud (More info - the sauce thickens
Posted on 01/27/2012 10:57:39 PM PST by Laissez-faire capitalist
Debating in Tampa Florida this month, Mitt Romney strongly denied that his investment company Bain Capital did "any work with the government like Medicaid and Medicare." However, under Romney's "supervision," Bain purchased and ran the Damon Corporation which pled guilty to Federal conspiracy charges - as a result of tens of millions in systemic Medicare fraud...
According to a cited Forbes report, in 1989, Bain Capital purchased controlling interest in Damon Corp. a medical testing company located in Needham, Massachusetts. "During the time that Bain held its ownership of the company, Mitt Romney personally sat on the board of directors.."
And during that same period, Damon Corp. was busy submitting fraudulent reimbursement claims to Medicare to the tune of millions of dollars.."
According to the Forbes summary, by the time Damon Corp. pleaded guilty to defrauding the United States Government Bain had conveniently and in the nick of time sold the company to Corning, Inc.
According to Forbes, when Mitt Romney was hammered with the scandal during his campaign to become Governor of Massachusetts, he acknowledged that he did have some awareness of the shady dealings going on at Damon... he had helped uncover the illegal activity at Damon, asking the boards lawyers to investigate. As a result, he said, the board took corrective action before selling the company in 1993 to Corning Inc. However, according to the court records, the Damon scheme continued throughout Bain's ownership, and prosecutors credited Corning, not Romney, with taking corrective action.
According to a Boston Globe report... then Republican gubernatorial candidate Mitt Romney, while insisting that he and fellow members of Damon Corp. uncovered what was later determined to be a criminal scheme to defraud Medicare in 1993, acknowledged that the directors did not turn over their findings to federal authorities...
(Excerpt) Read more at newsmax.com ...
Forbes and Newsmax are using "the tactics of the left."!!!!! /s
Surely no one is buying these straw man tactics from Romney.
What say you?
Just more blatant lies from Romney.
Seems he can’t help himself.
Better for a Republican to use the so called “Obama playbook” in the republican primary before it’s too late and Obama gets to use it instead.
Newt will take this information and beat it like a tin drum.
Florida, this juice is for you.
This was a part of the 2008 Mclame dossier released weeks ago. LSM, including fox, was too busy worshipping at the alter of Williard, than tell people the truth.
Romney truth file BTTT.
Have you not learned yet to ask Mitt anything about how he made money is unacceptable? IT does NOT matter how much tax payers got shafted because nobody can do it better than Romney. s/
Which political candidate did Wall Street overwhelmingly fund in the last presidential election? WHO got ‘bailed out’, and yet we continue to have the mass confusion of the ‘Wall Street’ crowd cheering on the performance art called ‘occupy wall street’.... Deception is well pass the point of return.
I thought everybody told Rick Perry to go to hell for attacking Newt on Bain Capital?
Now it seems to be fashionable.
Check out video linking Willard with the the Damon Corporation, who pled guilty to Federal conspiracy charges as a result of tens of millions of dollars in systemic Medicare fraud committed under Romneys and Bains control.
This stuff will sink Romney, if he gets the nomination, like the Titanic.
Now it seems to be fashionable.
**for the life of me I cant seem to separate the silly names**
Dirty, filthy Romney!
WISE UP, VOTERS!
I don’t think all was part of the dossier.
And Romney recently saying Bain had no dealing with Medicaid or Medicare recently (this is in 2012) cannot be part of the 2008 dossier.
Redo of second part:
Romney saying recently (in 2012) that Bain had no dealing with Medicare, Medicaid, cannot be a part of a 2008 dossier.
I know you dealt with this yesterday, and picked out some things you found questionable. This information evidently originated from Forbes, who gave it to Perry, and now to Gingrich. Forbes, I suspect, doesn’t like Romney much.
Romney used a straw man tactic: any questioning of him and/or Bain was an attack on capitalism.
Given what Zerohedge, Dirtdiggersdigest, LA Times, American Spectator (Romney: Corporate Welfare Bum), Boston Globe, etc, etc, have released on Romney, there is no attack on capitalism...
...just an exposing of Romney not being for free enterprise.
Yes, I am aware of the history of this flap.
If Romney was a mortician stealing gold teeth the nomenklatura would defend him as a ‘successful mineral reclamation investor’.
Like sockpuppet Obama, sockpuppet Romney can do no wrong for those who find amoral empty suits useful.
I can see where you are coming from, but dealing with the message is what is needed and is what matters, not focusing on the messenger (Forbes, who whoever it is).
Tigen gave a link to this video earlier today.
If you can stand it, watch it all otherwise you can watch Romney start to wind up and get all bent out of shape.
Starting at about 9:00
One thing I’ve learned in the last few days, Romney seems to be a habitual liar along with ‘I didn’t know about that’ sort. Real slime.
Justiceseeker93 commented to me about this article, pointing out errors. Since I admire Steve Forbes and know his background, I doubt there are any misstatements in the video.
Steven Forbes is associated with Forbes Magazine, and is a great Conservative. A proponent of the flat tax, he even ran for the Republican candidacy to be President (nice man, no charisma!). I'm sure at this point he is backing Newt Gingrich; I know he would never support someone like Mitt Romney.
The whistle blowers need to come out. Ethics doesn't matter. If Romney was a good guy, he would not have any problems-he is what he is and seems like a corrupt money man. I pray that we the people can stop this guy.
LOL! Exactly; as another poster said, Romney has managed (with the cooperation of the media) to portray any attack on him or his practices as an "attack on capitalism."
As for this latest shady business, Romney will doubtless say he knew nothing about it, adding it to the many things he knew nothing about: his scurrilous (personally endorsed!) ad saying Gingrich thought Spanish was a ghetto language, his last year's income taxes, his investments, what bank he left his money in and in what country, etc.
Anybody who claims to know that little about his day-to-day life can hardly at the same time claim to be a great businessman!
“Steven Forbes is associated with Forbes Magazine, and is a great Conservative. A proponent of the flat tax, he even ran for the Republican candidacy to be President (nice man, no charisma!).”
At the time I dismissed him out of hand for coming across as a nerd. Such a shallow mistake on my part. He has proven to be a rock of conservatism AND liberty over the years. Quiet, but firm and unyielding. A good man, who promotes freedom and prosperity rather than himself.
If the media doen’s get the word out, will anyone know?
Mitt managed via a “blind trust” ???
Man, great video of Mitt. What an ass.
First minute: “I always get those thick filet mignons”
(Yeah, he’s really in touch with most Americans)
Man, the video is excellent.
MITT WAS SWEATING !
Romney actively opposed Forbes’ tax plan:
In 1996, Mitt Romney was so passionately opposed to the flat tax that he took out an ad in the Boston Globe to criticize Steve Forbes flat tax proposal. The Forbes tax isnt a flat tax at all its a tax cut for fat cats! Romney, labeling himself a concerned citizen, wrote.
By the end of the general election campaign (if Mitt wins - and I’m not so sure he will), we will know everything we need to know about Mormonism. Obama will make sure of that.
Ugly. It’s going to get real ugly.
You are so right, and we all need to keep our eye on the ultimate goal of getting rid of the enemy in the White House. Obama and his operatives are sitting on a mountain of cash. With that much cash to pay for opposition research they could dig up dirt on probably anyone. What we need to be concentrating on is bypassing the firewall put up by the MSM to protect Obama and getting as many stories out into the ether as we can that put Obama in the position of defending himself. The best defense for Republican candidates in this instance truly is to have a good offense.
I wonder if the Cinderella story of Newt coming back and taking it all after FL won't become all that much more compelling if that were the case.
Bill Frist, medical doctor and former Republican Senate Majority Leader (2003 - 2007), said Tuesday that hes for fixing not nixing ObamaCare.
Frists father and brother founded Hospital Corporation of America, the largest private operator of health care facilities in the world. His brother, nephews and other members of his extended family own significant stakes in the company, which is eyeing a public stock offering to resolve looming debt issues. With ObamaCare, hospitals forecast less uncompensated care (bad debt) and their stock prices have been rising accordingly. The improved prospects for publicly traded hospitals appear to have inspired the owners of HCA to take the company public again.
The RinoCrat Oligarchy have themselves invested in Bain...and their personal financial security is probably dependent on its success...which is in turn dependent upon a Romney Candidacy.
Think Madoff...but with legislative leverage to meet the calls....
“What say you?”
It would sure be nice if this info got to the elderly who are voting in Fla.—but it won’t happen. The gop elite is doing it’s damndest to rig this one.
Limbaugh is definitely revealing himself to be a blowhard. In fairness to him, that was always his stock in trade; after all, he is an entertainer. But he shoots his mouth off without thinking, without considering the damage it may do, and I’m often not sure that he has any real principles anymore. Maybe he should just stick to talking about football or golf and selling his iced tea.
You make a good point.
Also, Romney has been running for president since 2008. Well, make that 2006, actually. The other candidates were actually doing something useful with their lives.
Perhaps the most legally thorny was Bain Capital’s 1989 purchase of Damon Corp., a Needham medical testing firm that later pleaded guilty to defrauding the federal government of $25 million and paid a record $119 million fine.
Romney sat on Damon’s board. During Romney’s tenure, Damon executives submitted bills to the government for millions of unnecessary blood tests. Romney and other board members were never implicated.
More than a decade later, when Romney was in pursuit of the Massachusetts governorship, his Democratic opponent Shannon O’Brien accused him of lax oversight at Damon and failing to report the fraud.
Romney replied that he had helped uncover the illegal activity at Damon, asking the board’s lawyers to investigate. As a result, he said, the board took “corrective action” before selling the company in 1993 to Corning Inc.
But court records suggest that the Damon executives’ scheme continued throughout Bain’s ownership, and prosecutors credited Corning, not Romney, with cleaning up the situation. Bain, meanwhile, tripled its investment.
Romney personally reaped $473,000.
In 1997, he balked again, at the acquisition of a Los Angeles video distributor and movie producer that would be renamed Artisan Entertainment and become famous for producing the movie “The Blair Witch Project.”
Romney worried that Bain Capital’s image would suffer from the perception it “had gone Hollywood,” according to Rehnert, the Bain partner who proposed he deal.
Romney had another problem. The studio had an extensive library of R-rated films, which The Church of Jesus Christ of Latter-day Saints discourages its members from watching.
Rehnert calmed Romney’s image concerns by enlisting a Chicago firm to join the deal, sharing the risk and deflecting attention from Bain.
Romney, balancing his duty to make money for his investors with his religious beliefs, let the deal go through, but declined to co-invest his own money, which partners usually did.
“I didn’t want to profit from a studio that made R-rated movies,” Romney said recently.
By the time Bain Capital sold its interest in Artisan in 1999, it had more than tripled its investment.
Can an upstart born in porn become the premier independent film studio? That’s what the founders of Artisan Entertainment are betting, despite the odds.
Ever since last summer, when a group of investors took LIVE Entertainment private in a $150 million buyout, they have pledged to turn the newly named Artisan into a major Hollywood contender.
At Bain Consulting, Curcio was a partner in the Los Angeles office, where he worked on entertainment mergers and acquisitions. In doing so, Curcio and his partners realized the industry’s potential.
“It’s a huge industry with high growth rates that historically do not invest well,” he said.
As a consultant, Curcio met Block, who at the time was with ICM.
“We looked at buying October Films, but then the price went up, and Universal bought them,” said Curcio. Then, Bain stumbled onto LIVE Entertainment, which at the time was trying to recapitalize.
LIVE had a checkered history. The company started as Caballero, a firm whose output included numerous pornographic videos. In the mid-1980s, Caballero sold LIVE Entertainment its children’s titles.
LIVE will be forever associated with the Menendez Brothers, whose father, Jose, headed the company in the late 1980s. When Jose and his wife, Kitty, were gunned down at their Beverly Hills home in 1989, the sons, who were later convicted of the crimes, suggested that a porn-film purveyor was the murderer.
Maggie, do we know who the “Chicago firm” was that joined the porn deal? Is it connected to the mob, government, FOB, Rahm E’s brother?
Still digging ...
Artisan is owned by a group of financiers including Bain Capital; Richland, Gordon & Co. of Chicago; and Canyon Partners of Beverly Hills. More recently, Allen & Co. has hopped aboard and Artisan has already formed “exit” strategies, which in the not-so-distant future consist of raising public funds, merging with a studio, or cashing out in another private placement.
Material came out yesterday that the manager of the “blind” trust was a lawyer friend that would not qualify under federal law if he was president......Knowing his background my first reaction was it was probably a relative too. (Jon Huntsman is Willard’s cousin through grandfather with five wives in Mexico.)
Mr. Alan D. Gordon is the President at Richland, Gordon & Company. He is also the President, Chief Executive Officer, and Director at Atlantica Inc. Mr. Gordon is also the Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer at Sungard Avantgard (US) Inc. He serves as Chief Financial Officer, Principal Accounting Officer and Senior Vice President of Getpaid LLC. He served as Vice President of Getpaid LLC. He is also Chairman of ALDA Office Properties, Inc. Previously, he served as the Chief Executive Officer and Chairman at AmeriSports Companies, L.L.C. Mr. Gordon has been the Vice Chairman of Artisan Entertainment Inc. since January 2000 and Director since July 1997. He has been a Director of Varsity Spirit Corporation since 1989. Mr. Gordon holds a B.A., Cum Laude, from Dartmouth College in 1977.
Joshua S. Friedman - Founding Partner, Co-Chairman, and Co-CEO
Joshua S. Friedman is Co-Founder, Co-Chairman, and Co-Chief Executive Officer of Canyon Partners, LLC. Mr. Friedman is a graduate of Harvard College (B.A., summa cum laude, Phi Beta Kappa, Physics), Oxford University (M.A., honors, Politics and Economics, Marshall Scholar), Harvard Law School (J.D., magna cum laude), and Harvard Business School (M.B.A., Baker Scholar). Prior to forming Canyon, Mr. Friedman was Director of Capital Markets for High Yield and Private Placements at Drexel Burnham Lambert. Prior to working at Drexel, he worked in the Mergers and Acquisitions Department of Goldman Sachs in New York. Mr. Friedman is also a director and trustee of a number of nonprofit and charitable organizations.
Mitchell R. Julis - Founding Partner, Co-Chairman, and Co-CEO
Mitchell R. Julis is Co-Founder, Co-Chairman, and Co-CEO of Canyon Partners, LLC. Mr. Julis is a graduate of the Woodrow Wilson School at Princeton University (B.A., magna cum laude, Phi Beta Kappa), Harvard Law School (J.D., magna cum laude), and Harvard Business School (M.B.A., honors). Prior to forming Canyon, Mr. Julis directed a group of professionals responsible for a portfolio of distressed and special situation securities at Drexel Burnham Lambert. Prior to working at Drexel, he was a bankruptcy and creditors’ rights attorney at Wachtell, Lipton, Rosen & Katz in New York. Mr. Julis has authored a number of articles published in law journals and other periodicals on the subject of bankruptcy and distressed credit investing.
Notice the Canyon (posted above), Drexel (junk bonds) ties...
In one 1988 deal, known as Specialty Retailers Inc., Bain Capital used junk bonds from Drexel Burnham Lambert to finance the purchase of two Texas retailers. Junk bonds have low credit ratings and are therefore considered high risk, but also usually have high yields. A few months earlier, in connection with insider trading scandals, the Securities and Exchange Commission had sued Drexel and the man who built its junk bond business, Michael Milken.
Bain Capital went ahead anyway. Romney had kicked off the road show for potential investors, appearing at Milken’s Beverly Hills headquarters. When Bain Capital was through with the deal, it had converted its $10 million investment into a payout that exceeded $180 million.
Yeah, criticizing corporate fraud is just playing the politics of envy and is Anti-Capitalist.
A lot of Freepers think that any criticism of corporate practices is just leftist Anti-Capitalist propaganda.
They want us to ignore all the crap that Romney did when he was a "successful venture capitalist."
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