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.

By Tim Grieve
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.

Tim Grieve

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

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