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:

Commentary November 17, 2015, 6:41 pm

Shaky Foundations

The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.

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

Get access to 165 years of
Harper’s for only $45.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

December 2016

Separated at Birth

= Subscribers only.
Sign in here.
Subscribe here.

The Priest in the Trees

= Subscribers only.
Sign in here.
Subscribe here.

The Lightness

= Subscribers only.
Sign in here.
Subscribe here.

With Child

= Subscribers only.
Sign in here.
Subscribe here.

Standing Rock Speaks

= Subscribers only.
Sign in here.
Subscribe here.

Prose by Any Other Name

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
With Child·

= Subscribers only.
Sign in here.
Subscribe here.

"She glanced across the waiting room at a television playing a birth-control ad and laughed darkly. 'Jesus, Lord, it would be so nice if someone just pushed me down a flight of stairs.'"
Photograph (detail) by Lara Shipley
Article
Swat Team·

= Subscribers only.
Sign in here.
Subscribe here.

"As we shall see, for the sort of people who write and edit the opinion pages of the Post, there was something deeply threatening about Sanders and his political views."
Illustration (detail) by John Ritter
Article
Escape from The Caliphate·

= Subscribers only.
Sign in here.
Subscribe here.

"When Matti invited me on a tour of the neighborhood, I asked about security. 'The message has already been passed to ISIS that you’re here,' he said. 'But don’t worry. I guarantee I could bring even you in and out of the Islamic State.'"
Photograph (detail) by Alice Martins
Article
In This One·

= Subscribers only.
Sign in here.
Subscribe here.

"She glanced across the waiting room at a television playing a birth-control ad and laughed darkly. 'Jesus, Lord, it would be so nice if someone just pushed me down a flight of stairs.'"
Illustration (detail) by Shonagh Rae
Article
“Don’t Touch My Medicare!”·

= Subscribers only.
Sign in here.
Subscribe here.

"Medicare’s popularity, however, comes with almost no understanding of what the program is and how it works."
Illustration (detail) by Nate Kitch

Number of tombstones in Tombstone, Arizona:

792

Electrofishing on the Irrawaddy River deters dolphins from their habit of assisting fishermen.

Trump tweeted that “millions of people” had illegally cast ballots in last month’s presidential election, and the Washington Post identified four cases of voter fraud across the country.

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

HARPER’S FINEST

Who Goes Nazi?

= Subscribers only.
Sign in here.
Subscribe here.

By

"It is an interesting and somewhat macabre parlor game to play at a large gathering of one’s acquaintances: to speculate who in a showdown would go Nazi. By now, I think I know. I have gone through the experience many times—in Germany, in Austria, and in France. I have come to know the types: the born Nazis, the Nazis whom democracy itself has created, the certain-to-be fellow-travelers. And I also know those who never, under any conceivable circumstances, would become Nazis."

Subscribe Today