Washington Babylon — October 25, 2007, 6:02 pm

Alert: A mega-scandal in the making

There’s a new scandal unraveling that has a great cast of characters and sounds like it should be fun to watch unravel. Here’s what’s up:

  • Yesterday, the Feds raided WellCare, a fast-growing Florida health care firm which has a Cayman Islands subsidiary and whose “independent sales agents in Georgia enrolled dead people in Medicare plans.”
  • WellCare is owned by a NYC-based investment fund headed by George Soros (The Soros firm held its stake until last year, when it sold).
  • The firm is a major donor to the GOP and two of its top executives, David Hart and Todd Farha, are Bush fundraising Pioneers. WellCare has also hosted several big fundraisers for Florida Senator Mel Martinez.
  • WellCare operates a pilot program in Florida authorized by a rather curious federal waiver. Furthermore, WellCare was named as one of the first eight companies named to provide “prescription drug coverage under the new Medicare drug benefit.”
  • Current corporate board members include former Senator Bob Graham. Dr. Andrew Agwunobi, a former board member, had previously headed the Florida agency that oversees Medicaid. “For his six months service on WellCare’s board,” wrote The St. Petersburg Times, “Agwunobi received stock, which he sold for more than $1 million.” Agwunobi now is at the Florida Agency for Health Care Administration. He released a statement today saying his agency is carefully monitoring the situation with WellCare.
  • In the aftermath of the raid, WellCare’s stock has fallen through the floor. “Some WellCare insiders managed to escape that crash,” TheStreet.com reports. “Director Neal Moszkowski executed the most recent transaction, selling more than $1 million worth of stock four days before the raid. Meanwhile, WellCare CEO Todd Farha has been unloading company stock for months. He executed his last big transaction, which generated more than $1 million as well, just two weeks ago.”

Enjoy–and spend some time on Google, because there’s plenty of low-hanging fruit still to be picked.

Share
Single Page

More from Ken Silverstein:

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Postcard October 16, 2013, 8:00 am

The Most Cajun Place on Earth

A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits 

Get access to 164 years of
Harper’s for only $45.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

May 2015

Black Hat, White Hat

= Subscribers only.
Sign in here.
Subscribe here.

Beyond the Broken Window

= Subscribers only.
Sign in here.
Subscribe here.

In Search of a Stolen Fiddle

= Subscribers only.
Sign in here.
Subscribe here.

Displaced in the D.R.

= Subscribers only.
Sign in here.
Subscribe here.

The Quietest Place in the Universe

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Post
“Don sucked the last of his drink through his straw and licked his lips. 'The coast, to me, is more interesting than the valley.'”
Photograph by the author
Article
Fred Morton, who died this week in Vienna, at the age of 90, was a longtime contributor to Harper's Magazine and a good friend. "Othello's Son," which was listed as a Notable Essay in Best American Essays 2013, appeared in our September 2013 issue.
Photograph © Alex Gotfryd/CORBIS
Article
Beyond the Broken Window·

= Subscribers only.
Sign in here.
Subscribe here.

“By the time Bratton left the department, in 2009, Los Angeles had quietly become the most spied-on city in America.”
Illustration by Taylor Callery
Article
Displaced in the D.R.·

= Subscribers only.
Sign in here.
Subscribe here.

“How is it possible that my birth certificate is invalid if I was born here?”
Photograph by Pierre Michel Jean
Article
The Quietest Place in the Universe·

= Subscribers only.
Sign in here.
Subscribe here.

“Gaitskell and his colleagues are approaching the revelation of a new order, a new universe, in which even light will be known differently, and darkness as well.”
Painting by Sebastiaan Bremer

Number of African countries with vaccination rates higher than that of the United States:

16

Iowa urologists reported that only a minor portion of locker-room teasing arises from “the presence of excess foreskin”; most teasing targets small penises.

A farmer in Surrey, England, was ordered by the Reigate and Banstead Borough Council to tear down his cannon-equipped castle, which he had built secretly and then concealed behind hay bales.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Subways Are for Sleeping

By

“Shelby is waiting for something. He himself does not know what it is. When it comes he will either go back into the world from which he came, or sink out of sight in the morass of alcoholism or despair that has engulfed other vagrants.”

Subscribe Today