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October 25, 2007
Soros-related firm raided by FBI (updated)
WellCare Health Plans of Tampa, a firm which has made scads of money administering government health care, and huge profits for George Soros, who was once its largest shareholder, has been raided by the FBI and shuttered. The St. Petersburg Times reports:
According to the St. Petersburg Times:
The same paper reported in 2004:
This case bears close watching. Note the conflicting dates given for the Soros takeover. When did the business practices which attracted law enforcement attention begin?
George Soros postures as a friend of the downtrodden. Breaking the British Pound, and economies of Malaysia and other Southeast Asian countries made him a fortune.
Quite the philanthropist....
Hat tip: Ed Lasky
Updates from Clarice Feldman:
All WellCare SEC filings to date.
Co-Chief Executive Officer of TowerBrook Capital Partners, LP
Neal Moszkowski previously served as a director of Integra from March 1999 through May 2005. Mr. Moszkowski re-joined the Board of Directors in August 2006. Mr. Moszkowski currently serves as the Co-Chief Executive Officer of TowerBrook Capital Partners, LP, a private equity investment company with more than $2.5 billion under management. Prior to joining TowerBrook, Mr. Moszkowski was Managing Director and Co-Head of Soros Private Equity, the private equity investment business of Soros Fund Management LLC, where he served since August 1998. From August 1993 to August 1998, Mr. Moszkowski worked for Goldman, Sachs & Co. and affiliates, where he served as Vice President and Executive Director in the Principal Investment Area. He is also the Chairman of the Board of Directors of Wellcare Health Plans, Inc., a health maintenance organization. He also serves on the Boards of Directors of Bluefly, Inc., an online apparel retailer, Spheris, Inc., a provider of medical transcription, and JetBlue Airways Corporation, a passenger airline. Mr. Moszkowski earned his B.A. from Amherst College and his M.B.A. from the Stanford Graduate School of Business. (emphases added)
In April, Soros spun off the $1.3-billion private equity group and the new firm was renamed TowerBrook Capital Partners. TowerBrook is headed by Neal Moszkowski, who previously led Soros Private Equity (emphases added)
Here is the Bd of Directors list. Note that Democrat ex-Senator Graham is on it.