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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRomney, Damon Corporation and a $119 Million Medicare Fraud Settlement
According to a cited Forbes report, in 1989, Bain Capital purchased controlling interest in Damon Clinical Laboratories Corporation, a medical testing company located in Needham, Massachusetts.
In 1996, Damon admitted that from 1988 to 1993 it had shored up its earnings by submitting false claims to Medicare and other federal programs, and had agreed to pay , after being found guilty, a $35.3 million criminal fine one of the largest corporate fines in U.S. history and an additional $83.7 million to settle the lawsuits..
...
In 1993, Romney claimed he was unaware of any investigation quoted in the Boston Globe on Oct. 10, 1993. When the Globe revisited the case during Romneys run for governor in 2002, his story was different. Romneys story changed about his knowledge of the investigation.
The Globe, disclosing that Romney had earned $473,000 from the sale, reported on Oct. 10, 2002
In 1996, Damon admitted that from 1988 to 1993 it had shored up its earnings by submitting false claims to Medicare and other federal programs, and had agreed to pay , after being found guilty, a $35.3 million criminal fine one of the largest corporate fines in U.S. history and an additional $83.7 million to settle the lawsuits..
...
In 1993, Romney claimed he was unaware of any investigation quoted in the Boston Globe on Oct. 10, 1993. When the Globe revisited the case during Romneys run for governor in 2002, his story was different. Romneys story changed about his knowledge of the investigation.
The Globe, disclosing that Romney had earned $473,000 from the sale, reported on Oct. 10, 2002
http://www.addictinginfo.org/2012/01/30/romney-damon-corporation-and-a-119-million-medicare-fraud-settlement/
Romney Was On Damons Board Of Directors While The Fraud Took Place He Initially Claimed He WasUnaware Of Any Criminal Investigation.
Mitt Romney, former Republican challenger to US Sen. Edward M.Kennedy, who was a member of Damons board, said he was unaware of any investigation. Romney said that[Damons then-CEO Robert] Rosen told the board in about 1992 that all current practices at the company werenow in conformity with government regulations and that in the past there may have been practices which wouldnot be deemed appropriate.
(Kimberly Blanton, Needham Lab Fined $ 119m For Fraud,
The Boston Globe
, 10/10/96)
Made Large Profits From A Criminal Scheme To Fraudulently Bill The Federal Medicare System
[Romney] and his venture capital firm made large profits from the 1993 sale of a Needham medical testingcompany whose robust revenues were generated in part from a criminal scheme to fraudulently bill thefederal Medicare system for unnecessary blood tests.
(Frank Phillips, Romney Profited On Firm Later Tied To Fraud,
The Boston Globe
, 10/10/02)
Pure And Simple Corporate Greed Run Amok.
Damon Corp. pleaded guilty in 1996 to a federalconspiracy charge of defrauding the government of $25 million between 1988 and 1993. It paid a record $119million fine and penalty for a scheme that then-US Attorney Donald Stern labeled a case, pure and simple, ofcorporate greed run amok.
(Frank Phillips, Romney Profited On Firm Later Tied To Fraud,
The Boston Globe
, 10/10/02
1993: Immediately Following Acquisition By Corning, Damon Closed Plant In Needham Heights, Laid Off115 Massachusetts Workers.
Republican businessman Mitt Romney helped direct a Massachusetts medicaldiagnostics company toward a merger that resulted in the permanent closure of a Needham Heights plant andlayoffs of about 115 Massachusetts workers. Damon Corp. was headquartered in Massachusetts for more than30 years until it was purchased by Corning Inc. in 1993 and the Needham facility was closed. The day after themerger with Corning was completed, the new company notified the Massachusetts Department of Employmentand Training that it was permanently closing the Needham plant and laying off about 115 people.
(Meg Vaillancourt,Romney-Aided Deal Closed Damon Plant,
The Boston Globe
, 10/9/94)
Romney Feared The Massachusetts Layoffs Would Come, But Voted To Approve Deal Anyway
Mitt Romney, former Republican challenger to US Sen. Edward M.Kennedy, who was a member of Damons board, said he was unaware of any investigation. Romney said that[Damons then-CEO Robert] Rosen told the board in about 1992 that all current practices at the company werenow in conformity with government regulations and that in the past there may have been practices which wouldnot be deemed appropriate.
(Kimberly Blanton, Needham Lab Fined $ 119m For Fraud,
The Boston Globe
, 10/10/96)
Made Large Profits From A Criminal Scheme To Fraudulently Bill The Federal Medicare System
[Romney] and his venture capital firm made large profits from the 1993 sale of a Needham medical testingcompany whose robust revenues were generated in part from a criminal scheme to fraudulently bill thefederal Medicare system for unnecessary blood tests.
(Frank Phillips, Romney Profited On Firm Later Tied To Fraud,
The Boston Globe
, 10/10/02)
Pure And Simple Corporate Greed Run Amok.
Damon Corp. pleaded guilty in 1996 to a federalconspiracy charge of defrauding the government of $25 million between 1988 and 1993. It paid a record $119million fine and penalty for a scheme that then-US Attorney Donald Stern labeled a case, pure and simple, ofcorporate greed run amok.
(Frank Phillips, Romney Profited On Firm Later Tied To Fraud,
The Boston Globe
, 10/10/02
1993: Immediately Following Acquisition By Corning, Damon Closed Plant In Needham Heights, Laid Off115 Massachusetts Workers.
Republican businessman Mitt Romney helped direct a Massachusetts medicaldiagnostics company toward a merger that resulted in the permanent closure of a Needham Heights plant andlayoffs of about 115 Massachusetts workers. Damon Corp. was headquartered in Massachusetts for more than30 years until it was purchased by Corning Inc. in 1993 and the Needham facility was closed. The day after themerger with Corning was completed, the new company notified the Massachusetts Department of Employmentand Training that it was permanently closing the Needham plant and laying off about 115 people.
(Meg Vaillancourt,Romney-Aided Deal Closed Damon Plant,
The Boston Globe
, 10/9/94)
Romney Feared The Massachusetts Layoffs Would Come, But Voted To Approve Deal Anyway
McCain Opposition file on Romney (Pg 140)
http://www.scribd.com/doc/78582788/McCain-2008-Oppo-File
Ok let me get this straight Romney
Before Damon admitted to wrongdoing, in 1993 you claimed you were unaware of any investigation. Then in your run for Governor in 2002, your story changed to not only being aware of it but helping to stop the fraud, which facts show didn't stop until Damon was sold to another company. Then when that claim is proven to be false according to court records...you then change your story yet again to saying that you just didn't report your findings to federal authorities. What a load of pants on fire bullshit Romney.
Does this lying all sound familiar?
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Romney, Damon Corporation and a $119 Million Medicare Fraud Settlement (Original Post)
SunsetDreams
Jul 2012
OP
maddezmom
(135,060 posts)1. someone needs to photo shop Romney with a Pinocchio nose
SunsetDreams
(8,571 posts)2. Like this?
Tarheel_Dem
(31,250 posts)3. Oh snap!
maddezmom
(135,060 posts)5. ah, that was quick
Can I save it and add it to my photobucket account to use?
SunsetDreams
(8,571 posts)6. It's not mine
It's on google images
maddezmom
(135,060 posts)9. hehe
AtomicKitten
(46,585 posts)4. "I see nothing."
SunsetDreams
(8,571 posts)7. LOL
love the video clip
SunsetDreams
(8,571 posts)8. .