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Tue Aug 21, 2012, 07:10 PM

Mitt Romney Medicare Fraud: $117,000,000 fines and resitution.

Mitt Romney Medicare Fraud
http://mitt-romney-kills-jobs.blogspot.com/2011/06/mitt-romney-medicare-fraud.html
Mitt Romney's 'Jobs Record' Is A Sham
June 02, 2011 9:02 am ET
The Boston Globe (Boston, MA)
ROMNEY PROFITED ON FIRM LATER TIED TO FRAUD DAMON CORP. FINED AFTER SALE BY BAIN

Publication:
The Boston Globe (Boston, MA)
Publish date:
October 10, 2002

New York Times Articles
Corning Will Plead Guilty to Medicare Fraud
By MILT FREUDENHEIM
Published: October 10, 1996


In the one of the biggest Medicare fraud settlements involving a clinical laboratory company, Corning Inc. agreed yesterday in Boston to plead guilty to Federal fraud charges and pay $119 million in criminal fines and civil penalties.

The Government said the settlement covered ''literally millions of fraudulent claims'' at Damon Clinical Laboratories Inc., which Corning acquired in 1993. Corning said the claims involved marketing and billing practices at the laboratories before Corning acquired them.

Like a number of other laboratory companies, Damon admitted to billing Federal Government agencies for blood tests that were not considered medically necessary but were performed along with legitimate tests requested by physicians. The United States Attorney's office in Boston said Damon, formerly based in Needham, Mass., had agreed to plead guilty to charges of conspiring to defraud the Federal Health Care Financing Administration. Damon agreed to pay a criminal fine of $35.3 million and to pay back $83.7 million to Federal health programs.


Corning subsidiary pays $119 million and is barred from the Medicare program to settle fraud cases
Oct. 9, 1996 -- Damon Clinical Laboratories Inc., a wholly owned subsidiary of Corning Inc., has agreed to pay $119 million in criminal and civil fines to settle a case involving two whistleblower lawsuits and criminal charges. The whistleblowers and the government charged that the company had submitted false claims to Medicare and other federal insurance programs for laboratory tests that were not ordered and were not medically necessary.

Damon agreed to pay a criminal fine of $35.3 million and to pay the government $83.7 million to settle the whistleblower lawsuits.


Top 100 Corporate Criminals of the 1990s
13) Damon Clinical Laboratories, Inc.
Type of Crime: Fraud
Criminal Fine: $35.2 million

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Reply Mitt Romney Medicare Fraud: $117,000,000 fines and resitution. (Original post)
_Liann_ Aug 2012 OP
cr8tvlde Aug 2012 #1
_Liann_ Aug 2012 #2
cr8tvlde Aug 2012 #3
Jeff In Milwaukee Aug 2012 #4
_Liann_ Aug 2012 #5

Response to _Liann_ (Original post)

Tue Aug 21, 2012, 08:27 PM

1. Rick Scott's HCA firm did that and he still got elected FLA Governor

See, no harm, no foul. I thnk Medicare fraud is a Resume builder. It's how they roll.

http://en.wikipedia.org/wiki/Rick_Scott

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Response to cr8tvlde (Reply #1)

Wed Aug 22, 2012, 02:01 AM

2. That may be true BUT, why is the media hiding it?

There are literally thousands of billionaires and high millionaires much richer than RMoney. Some of them own media and don't owe any subservience to RMoney. So why is the media blank on this. Not every billionaire can possibly be on the same page with overthrowing democracy and handing America over to the Koch brothers. Not even Obama's superpacs have touched this story, with MEDICARE a top story point.

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Response to _Liann_ (Original post)

Wed Aug 22, 2012, 07:44 PM

3. I just notice things. Justifying them is another story...for either party.

But the term "Corporatocracy" covers it all. And we're nearing "Kleptocracy". Wikipedia has interesting information.

http://en.wikipedia.org/wiki/Corporatocracy

http://en.wikipedia.org/wiki/Kleptocracy

I don't recall ever a response to these two definitions. One of those "deer in headlights" issue, perhaps.

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Response to _Liann_ (Original post)

Wed Aug 22, 2012, 08:01 PM

4. Damn!

Just to certain that I'm clear on this -- it took a couple of clicks to get it all -- Mittens was on the Board of Damon at a time when it was fraudulently billing the Medicare for millions in unnecessary tests. He was on the board because Bain had acquired the company.

They apparently pumped up the revenues through fraud, then sold it to an unsuspecting Corning, which was stuck paying the fine. I'm surprised Corning didn't sue Bain.

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Response to Jeff In Milwaukee (Reply #4)

Fri Aug 24, 2012, 02:11 AM

5. Bain is Vampire Capitalism, sucking the life out of weak corporations

Bain sought out companies needing loans -- classic loan sharking.

They insure their investment by getting their majority on the Board to watch over their loans. Once they have majority control they liquidate pension funds and sell off assets, sign "management contracts" with Bain that allows sucking out everything that can be drained off. They puff up the stock price and sell off their shares while the price is inflated, and pay back to themselves their loans. The severely or mortally wounded company is left as a depleted husk to sink or swim.

Corning got a corporation on the ropes probably far below it's potential value to Corning, so they had no motive to complain about the surprise bill for $117,000,000 for fraud. Two Damon employees went to prison for the fraud. With the glare of bad publicity, they just let it go. Besides, who knows what other joint ventures they were/are in with Bain, and made up the loss in the next meal. If somebody wants to pay Lexus database they could find out more information than google carries -- maybe Corning did sue Bain but that wasn't in the NY Times or Boston Globe news accounts.

A campaign with $1,000,000,000 to spend should follow up, not some guys on an internet bbs.

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