Florida Governor 2011-19, US Senate with Marco Rubio 2019-
Struck it rich in the largest health care fraud in US history
Wikipedia “In 1988, Scott and Richard Rainwater, a financier from Fort Worth, each put up $125,000 in working capital in their new company, Columbia Hospital Corporation, and borrowed the remaining money needed to purchase two struggling hospitals in El Paso for $60 million. Then they acquired a neighboring hospital and shut it down. Within a year, the remaining two were doing much better. By the end of 1989, Columbia Hospital Corporation owned four hospitals with a total of 833 beds.
In 1992, Columbia made a stock purchase of Basic American Medical, which owned eight hospitals, primarily in southwestern Florida. In September 1993, Columbia did another stock purchase, worth $3.4 billion, of Galen Healthcare, which had been spun off by Humana Inc. several months earlier.
On March 19, 1997, investigators from the Federal Bureau of Investigation, the Internal Revenue Service and the Department of Health and Human Services served search warrants at Columbia/HCA facilities in El Paso and on dozens of doctors with suspected ties to the company. Eight days after the initial raid, Scott signed his last SEC report as a hospital executive. Four months later, the board of directors pressured Scott to resign as Chairman and CEO. He was succeeded by Thomas F. Frist Jr. Scott was paid $9.88 million in a settlement, and left owning 10 million shares of stock then worth more than $350 million. The directors had been warned in the company’s annual public reports to stockholders that incentives Columbia/HCA offered doctors could run afoul of a federal anti-kickback law passed in order to limit or eliminate instances of conflicts of interest in Medicare and Medicaid.
During Scott’s 2000 deposition, he pleaded the Fifth Amendment many times. In settlements reached in 2000 and 2002, Columbia/HCA pleaded guilty to 14 felonies and agreed to a $600+ million fine in what was at the time the largest health care fraud settlement in American history. Columbia/HCA admitted systematically overcharging the government by claiming marketing costs as reimbursable, by striking illegal deals with home care agencies, and by filing false data about use of hospital space.”