Great list
I see the Gov of Florida, he of the 8 hour voting lines, gets a mention....
"On March 19, 1997, investigators from the FBI, the Internal Revenue Service and the Department of Health and Human Services served search warrants at Columbia/HCA facilities in El Paso and on dozens of doctors with suspected ties to the company. [8] Following the raids, the Columbia/HCA board of directors forced Rick Scott to resign as Chairman and CEO. [9] He was paid a settlement of $9.88 million, and left with 10 million shares of stock worth over $350 million, mostly from his initial investment. [10] [11] In 1999, Columbia/HCA changed its name back to HCA, Inc.
After Scott stepped down Frist Jr. returned as chairman and CEO. He called on longtime friend and colleague Jack O. Bovender, Jr. to help him turn things around. Frist and Bovender, who became CEO in 2001, pulled off what Fortune Magazine called a remarkable corporate rescue. [12] In settlements reached in 2000 and 2002, Columbia/HCA pleaded guilty to fourteen felonies. They admitted systematically overcharging the government by claiming marketing costs as reimbursable, striking illegal deals with home care agencies, and filing false data about use of hospital space.
HCA also admitted fraudulently billing Medicare and other health programs by inflating the seriousness of diagnoses and to giving doctors partnerships in company hospitals as a kickback for the doctors referring patients to HCA. They filed false cost reports, fraudulently billing Medicare for home health care workers, and paid kickbacks in the sale of home health agencies and to doctors to refer patients. In addition, they gave doctors "loans" never intended to be repaid, free rent, free office furniture, and free drugs from hospital pharmacies. [13] [14]
In late 2002, HCA agreed to pay the U.S. government $631 million, plus interest, and pay $17.5 million to state Medicaid agencies, in addition to $250 million paid up to that point to resolve outstanding Medicare expense claims. [15] In all, civil law suits cost HCA more than $2 billion to settle, by far the largest fraud settlement in US history. [16] The name subsequently reverted to "Hospital Corporation of America." HCA abandoned the use of its name in its home market and instead promotes its Nashville hospitals under the TriStar brand.
On July 1, 2005, Senator Frist sold all of his HCA shares two weeks before disappointing earnings sent the stock on a 9-point plunge. Frist claimed that he sold his shares to avoid the appearance of a conflict of interest if he ran for president. Other executives sold their stock at the same time. Shareholders sued HCA in a lawsuit alleging that the company made false claims about its profits to drive up the price, which then fell when the company reported disappointing financial results. The lawsuit was settled in August 2007 with HCA agreeing to pay $20 million to the shareholders. [17]"
en.wikipedia.org |
