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Friday, September 23, 2005
Frist Family Records Subpoenaed
Jonathan M. Katz has continuing coverage of the story.
The Securities and Exchange Commission and federal prosecutors are investigating Senate Majority Leader Bill Frist's sale of stock in HCA Inc., the hospital operating company founded by his family.With the window of opportunity to pass legislation before the beginning of the campaign season rapidly closing, this is not what one would want their party leader to have to deal with. If Frist can't get this issue settled soon, he might have a coup on his hands (and Bill Frist knows a thing or two about coups within the Senate GOP).
In a statement released Friday, the Nashville-based company said federal prosecutors for the Southern District of New York issued a subpoena for documents HCA believes are related to the sale of its stock by the senator.
Frist's office confirmed the SEC is looking into the sale.
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