SEC Issues Subpoena To Frist, Sources Say

[UpInArms]

http://www.washingtonpost.com/wp-dyn/content/article/2005/10/12/AR2005101202286.html

Senate Majority Leader Bill Frist (R-Tenn.) has been subpoenaed to turn over personal records and documents as federal authorities step up a probe of his July sales of HCA Inc. stock, according to sources familiar with the investigation.

The Securities and Exchange Commission issued the subpoena within the past two weeks, after initial reports that Frist, the Senate's top Republican official, was under scrutiny by the agency and the Justice Department for possible violations of insider trading laws.

Frist aides previously said he had been contacted by regulators but did not mention that the lawmaker had received a formal request for documents. The sources, who spoke on condition of anonymity because of the investigation, said Frist is expected to testify under oath about what he knew about the company's health in the weeks before he sold stock. Frist has told reporters that he did nothing wrong and that he directed the sale to eliminate potential conflicts as he considered a 2008 presidential bid.

The formal request for documents usually presages an acceleration of a federal probe. In Frist's case, regulators had to proceed with caution due to his status in Congress and their mutual desire to avoid triggering constitutional objections to the release of documents. The disclosure of the subpoena comes as Democrats blasted Frist anew for his financial and personal ties to Hospital Corporation of America, a Nashville chain founded in 1968 by his father and his brother, Thomas Frist Jr. Critics yesterday seized on a report that Frist held a substantial amount of his family's hospital stock outside of blind trusts between 1998 and 2002 -- a time when he asserted he did not know how much of the stock he owned.

The Associated Press reported on Tuesday that Frist earned tens of thousands of dollars from HCA stock in a partnership controlled by his brother, outside of the blind trusts he created to avoid a conflict of interest.

...more...

[texpatriot2004]

1. Some Fristy Fried Chicken anyone? nm

[Erika]

2. The GOP Culture of Corruption marches on

DeLay, Rove, Cheney, etc.

[Tight_rope]

4. Well...It's a good thing Powell is allegic to oil...

If not...his ass would be getting ready to fry too.

[Independent_Liberal]

3. Kick!

[usregimechange]

5. kick

[oregonindy]

6. culture of corruption. I like that phrase...... n/t

[KerryReallyWon]

8. bring it on...

:toast:

[Pithy Cherub]

7. republicans: always just a subpoena away from being indicted.

Would you like some Frist Fries to go with the subpoena? :evilgrin:

[usregimechange]

9. What a bumper sticker that would make!

Can I steal your idea? :rofl:

[Pithy Cherub]

12. Go forth and multiply!

:party:

[Erika]

11. Frist fries...I like that

Served with Texas Delay rump roast.

[UDenver20]

10. HEE HEE HEE HEE HEE HEE

HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE HEE

[rodeodance]

18. lots more hee hee's

[rodeodance]

19. 4.8 stars

Average (86 votes)
4.8 stars

[Bumblebee]

13. when it rains, it pours. Like they stage mass weddings, can we have mass

GOP trials?

[MarsThe Cat]

14. Bush's SEC violations re: Harken Energy were more/equally egregious-

and he got to skate at the time- as usual because he was poppy's kid. but from what i recall- the harken file on dumbya was never officially closed- why not bring those back to the front burner too, along with ol' catkiller bill...?

[Carla in Ca]

15. See the last line?

SEC Chairman Christopher Cox, a former House GOP member from California, has removed himself from hearing evidence on or voting on the case, citing his ties to Frist.

All that inbreeding sure causes a lot of recusals, doesn't it? Man, three weeks on the job and Cox is already irrelevant. :P

[usregimechange]

16. kick

[Halliburton]

17. he saw the tapes of the blind trusts

he knows what's in them.

[The_Casual_Observer]

20. Frist is a crook. Bastards like him are never satisfied and always

always need to make more money, no matter how much they have.

[Sgent]

21. The SEC doesn't conduct

criminal investigaitons -- just civil & investigatory. The US Attorney conducts the criminal portion.

We should be calling for an independent prosecutor on this one IMHO.

[MADem]

22. Frist will probably get a 'naughty boy' letter, just like Chimp did when

he pulled that HARKEN Energy bullshit...

[usregimechange]

23. kick

[No Exit]

24. "And I think to myself... what a wonderful world!" n/t

[warrens]

25. Frist recieves SEC subpoena

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 Thursday.

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

A spokesman for Frist, a Tennessee Republican, was not immediately available for comment.

Frist aides previously said he had been contacted by regulators but did not mention that he had received a formal request for documents, The Washington Post said.

SNIP

http://money.cnn.com/2005/10/13/news/newsmakers/frist_hca.reut/index.htm?cnn=yes

[katinmn]

26. Reuters and WaPo: SEC subpoenas Frist in stock probe:

http://today.reuters.com/news/NewsArticle.aspx?type=domesticNews&storyID=2005-10-13T161810Z_01_ROB317652_RTRUKOC_0_US-FRIST.xml
WASHINGTON (Reuters) - Senate Majority Leader Bill Frist has been subpoenaed to turn over personal records in an investigation into possible insider trading, two leading U.S. newspapers reported on Thursday.

The U.S. Securities and Exchange Commission issued the subpoena within the past two weeks, reported The Washington Post and The Wall Street Journal, both citing sources familiar with the probe.

Bob Stevenson, spokesman for the Tennessee Republican, said subpoenas are routine in SEC inquiries.

"Senator Frist has been fully cooperating with the authorities conducting the inquiries and will continue to do so. ... The issuance of a subpoena would be an expected and normal part of that process," Stevenson said in a statement.
more

http://www.washingtonpost.com/wp-dyn/content/article/2005/10/12/AR2005101202286.html
SEC Issues Subpoena To Frist, Sources Say
Records Sought On Sale of Stock

By Carrie Johnson and Jeffrey H. Birnbaum
Washington Post Staff Writers
Thursday, October 13, 2005; Page A01

Senate Majority Leader Bill Frist (R-Tenn.) has been subpoenaed to turn over personal records and documents as federal authorities step up a probe of his July sales of HCA Inc. stock, according to sources familiar with the investigation.

The Securities and Exchange Commission issued the subpoena within the past two weeks, after initial reports that Frist, the Senate's top Republican official, was under scrutiny by the agency and the Justice Department for possible violations of insider trading laws.

Frist aides previously said he had been contacted by regulators but did not mention that the lawmaker had received a formal request for documents. The sources, who spoke on condition of anonymity because of the investigation, said Frist is expected to testify under oath about what he knew about the company's health in the weeks before he sold stock. Frist has told reporters that he did nothing wrong and that he directed the sale to eliminate potential conflicts as he considered a 2008 presidential bid.

more

[napi21]

27. But, but, but, I thought he said he put everything in that blind trust,

to eliminate the conflict of interest when he went into the Senate???

"Frist has told reporters that he did nothing wrong and that he directed the sale to eliminate potential conflicts as he considered a 2008 presidential bid."

Did he forget about this little petty cash sum? Hmmmm....

[beyurslf]

28. WH under investigation for leaking classified docs. House Leader

under indictment. Senate leader in SEC probe.

So glad the Repubs brought integrity back to Washington.

[Hardrada]

29. And this all happened without the Democrats moving

a finger and being all kissy-kissy wit the perps. What will LIEberman and the rest of DLC do now with their world crumbling around them?

[INdemo]

30. I am not sure 'bout this but....

the SEC chairman is not completely independent is he? Isn't he appointed by the President? Just as Greenspan's FED job is a appointed position.

[merwin]

31. Duplicate topic