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Article: Former Senator Bill Frist, MD, will not be charged with insider trading.
- Article from:
- Transplant News
- Article date:
- May 1, 2007
CopyrightCOPYRIGHT 2007 Transplant Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Former Republican Senator and Senate Majority Leader Bill Frist, MD, will not be charged with insider-trading by federal prosecutors.
The decision, which was announced April 27th, essentially clears Frist of charges that he engaged in illegal sales of stock in the Hospital Corporation of America (HCA) which is owned by his brother and father.
The US Attorney in the Southern District of New York and Securities Exchange Commission (SEC) sent Frist letters in late April that they had closed their joint, 18 month investigation. According to the Washington Post, the letters essentially cleared him of any wrongdoing.
The initial allegations revolved ...