Sen Bill Frist had somewhere between 7 and 35 million $ worth of stock. He (as required by Senate rules) put this stock in a "blind" trust. Asked in a television interview in January 2003 whether he should sell his HCA stock, responded,
Quote:Well, I think really for our viewers it should be understood that I put this into a blind trust. So as far as I know, I own no HCA stock"
Frist, referring to his trust and those of his family, also said in the interview,
Quote:"I have no control. It is illegal right now for me to know what the composition of those trusts are. So I have no idea."
Documents on file with the Senate show the trustees for Frist and his immediate family wrote the senator nearly two dozen times between 2001 and July 2005.
Documents on file with the Senate show the trustees for Frist and his immediate family wrote the senator nearly two dozen times between 2001 and July 2005.
The documents list assets going into the account and assets sold. Some assets have a dollar range of the investment's value and some list the number of shares. Bill sold all his stock just before it's value went down (blind trust?) Frist now faces dual investigations by the U.S. attorney for the Southern District of New York and the Securities and Exchange Commission into his stock sales.