Turned 41 Feb 27, 2021
Posted on 06/25/2021 4:19:25 AM PDT by gattaca
Clover Health under DOJ, SEC investigation
Chelsea Clinton is a board director at a health insurance company that has been accused of defrauding investors.
Clover Health has been slapped with numerous investor lawsuits that claim the company and its leadership failed to disclose that it was under investigation by the Department of Justice for allegedly offering illegal kickbacks to health care providers in exchange for patient referrals.
Several of the lawsuits were consolidated in April into a class action case, which accused Clover Health and its CEO Vivek Garipalli of "employ[ing] devices, schemes, and artifices to defraud" investors.
Clinton’s involvement with Clover Health, where she has served on the board since 2017 and in which she also holds a significant financial stake, could complicate the former first daughter’s effort to position herself as a global health expert and commentator.
In addition to sitting on Clover Health's seven-person board of directors, Clinton also serves on its committees that oversee corporate governance and compensation.
According to SEC records filed on Monday, Clinton owns 536,648 shares of Clover Health Class B Common Stock, which was worth just under $7 million as of Wednesday.
Clinton has promoted Clover Health’s work on social media. "Thanks to the team at @Clover_health for collecting amazingly (sad) stats on how many have received the #flushot this year," she wrote on Nov. 16, 2018, urging readers to get the flu shot and linking to the Clover Health website.
Clinton, an adjunct assistant professor at Columbia University’s Mailman School of Public Health, recently launched a medical-focused podcast called "In Fact with Chelsea Clinton," which aims to "open up the world of public health through conversations with experts, advocates, celebrities, and more," according to a press release.
Clinton’s office did not respond to a request for comment.
Clover Health’s legal woes have attracted criticism from prominent investors, including Starwood Capital Group CEO Barry Sternlicht, who called the company "basically a fraud" at Bloomberg’s Qatar Economic Forum on Wednesday.
Pomerantz LLP attorney Brian Calandra, who is representing the consolidated plaintiffs, declined to comment on the case but said he plans to file an amended complaint in the case next Monday.
A spokesman for Clover Health directed the Washington Free Beacon to a Medium post from February where Garipalli responded to many of the allegations. Garipalli said that, after consulting with legal counsel, the company "concluded that the fact of DOJ’s request for information was not material and was not required to be specifically disclosed in our SEC filings."
The DOJ probe of Clover Health was first reported by the investigative firm Hindenburg Research in February. The firm also reported that Clover Health had failed to disclose its ownership of a subsidiary company that billed itself as an independent Medicare adviser for seniors, and had allegedly handed out gift cards and other incentives to doctors who helped steer business to Clover Health.
The SEC launched an investigation into Clover Health after the Hindenburg Research report was published.
Hindenburg Research also revealed that the Centers for Medicare & Medicaid Services fined Clover Health $106,095 for misleading marketing practices in 2016, a sign the company has been on the federal radar for several years.
A spokesman for the DOJ declined to comment. The SEC did not respond to a request for comment.
Had to say that since I haven't said it for a while.
Yeah, this is the 3rd Clinton that you have been chanting about being locked up.
We cannot be this stupid as to try it again.
The acorn doesn’t fall far from the tree.
Clinton Foundation was training ground for Board work?
where else would a Clinton be? All 3 of them should be behind bars.
Vivek Garipalli = CEO = Mob Company
The Clinton organized crime connection is exposed
Columbia University’s Mailman School of Public Health
Only grifters need apply.
Clover Health CEO made millions overcharging NJ hospital patients, critics say
We'll know that it's another CIA/Clinton Cabal shell corporation when the d'OhJ foregoes pressing charges.
And................nothing will happen. At least they got that white supremacist threat Giuliani’s laws license, I feel safer now.
chelsea is gathering her street creds for future political career opportunities.
Untalented grifter.
>>Vivek Garipalli = CEO = Mob Company
The Clinton organized crime connection is exposed<<
That roaring silence you hear is both the msm and the DOJ (or ANY law enforcement agency) responding.
Kids....They cor-rupt so fast.
They mean Web Hubbles daughter,don’t they?
Grifters gotta Grift!
Chelsea’s innocent here. She’s got another do-nothing position because of family connections, but is unlikely to have done anything to affect business conduct one way or the other.
The situation is reminiscent of when she was set up as the titular head of the Clinton Foundation, and was so ignorant of the family business that she actually pulled in an outside auditor to check that the foundation was on the up-and-up, which of course it wasn’t. As documented in the WikiLeaks release, this prompted Richard Band to write a complaining letter about how hard he’d worked to build up the Foundation and the Clinton consulting businesses. He asked, “Who does she think she is? Who does she think paid for her wedding?”
Is she saving a seat for Hunter Biden?
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