Frist Under Investigation over Fortuitous Stock Deal

Conservative corruption: Criminal investigations are now swirling around the majority leaders in both houses of Congress. In the House of Representatives, top members of a fundraising group in Texas associated with Majority Leader Tom DeLay (R-TX) have been indicted, as has Jack Abramoff, a lobbyist with close ties to the Bug Man.

Now Senate Majority Leader Bill Frist (R-TN) is being investigated for selling stocks weeks before they lost value:

Federal prosecutors and the Securities and Exchange Commission are looking into Senate Majority Leader Bill Frist’s sale of stock in HCA Inc. at a time when insiders at the hospital operating company were also selling off shares.

HCA, based in Nashville and founded by the Frist family, said Friday that it had received a subpoena from prosecutors for the Southern District of New York, asking for documents the company believes are related to Frist’s stock sale.

Prosecutors also have contacted the senator’s office, Frist spokesman Bob Stevenson said. He said neither the senator nor his office had received a subpoena.


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