An investigation Frist can't avoid

The SEC and the Justice Department are looking into the Senate majority leader's suspiciously timed sale of stock in his family's company.

Published September 23, 2005 5:37PM (EDT)

As we noted earlier this week, Senate Majority Leader Bill Frist seems to have pulled off a suspiciously well-timed dumping of stock in his family's big healthcare business. It turns out that we weren't the only ones interested in the story: The Securities and Exchange Commission and federal prosecutors are now investigating Frist's sale of his stock in HCA, Inc. According to UPI, the Justice Department has just served a subpoena on HCA. The company says it believes the subpoena requests documents related to Frist's sale of the stock in July -- just before the stock price took a dive on a bad earnings forecast.

By Tim Grieve

Tim Grieve is a senior writer and the author of Salon's War Room blog.

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