The story begins in 1989, when Romney was the head of Bain Capital, a private equity firm that specialized in buying troubled companies, turning them around, and then selling them for a profit. That year, Bain bought Damon Corp., a medical testing company based in Needham, Mass.
Bain took the company public in 1991, and Romney served on the company’s board of directors. In 1993, Bain orchestrated a sale of the company to Corning Inc., getting a handsome return on its investment and earning Romney himself $473,000, according to The Real Romney. After the sale, Corning closed the main facility in Needham, laying off 115 people.
In October 1996, federal prosecutors announced that Damon was agreeing to pay $119 million in both civil and criminal fines after pleading guilty to defrauding Medicare. The company was providing doctors with forms that didn’t make clear what tests included, so doctors were checking off additional tests that weren’t necessary, according to the Globe’s summary of the government’s case.
The overbilling went from 1988 through 1993, prosecutors said. "This is a case, pure and simple, of corporate greed run amok," U.S. Attorney Donald Stern said when the settlement was announced.
http://www.politifac...rged-medicare-/
Criminal and now Florida Governor Rick Scott started and ran hospital chain Columbia/HCA. It too was fined heavily for massive Medicare fraud. (You can read up on it here.) The ad’s initial claim, that while Romney was "a director of the Damon Corp., the company was defrauding Medicare of millions is true. Like criminal Rick Scott Romney was also involved with massive fraud. Both of these corporate gangsters should be in jail but as anyone know the filthy rich rarely serve time for their crimes.
Maybe reporters will do their job and grill this greedy gangster Romney on this. If I had my way I would water board that Mormon son of a bitch.
