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POLITICS: Frist Subpoenaed in Stock Deal

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posted on Oct, 13 2005 @ 08:44 AM
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Legal difficulties continue for top Republican politicians as Bill Frist has now been subpoenaed in an insider trading investigation. The Securities and Exchange Commission issued the subpoena in an attempt to obtain Frist's personal records of his dealings with HCA Inc., the healthcare firm involved in the suspect stock transactions.
 



today.reuters.co m
WASHINGTON (Reuters) - Senate Majority Leader Bill Frist has been subpoenaed to turn over personal records in an investigation into possible insider trading, The Washington Post reported on Thursday.

The Securities and Exchange Commission issued the subpoena within the past two weeks, the newspaper reported, citing sources familiar with the probe.

Authorities are looking into Frist's recent sale of shares of hospital operator HCA Inc., co-founded by Frist's father and brother. The sales took place just days before HCA's stock price fell on a disappointing July 13 profit outlook.




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Did Frist have advance knowledge of the pending profit outlook? He certainly had access to the information. He will now have to answer some pointed questions under oath about what he knew and when.

Related AboveTopSecret.com Discussion Threads:
(submission) (politics) Sen. Frist had Conflict of Interest on Healthcare Votes

[edit on 13-10-2005 by Icarus Rising]




 
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