|
|
"A collaborative political resource." |
SEC Issues Subpoena To Frist, Sources Say
|
| Parent(s) |
Candidate
-
|
| Contributor | RP |
| Last Edited | RP Oct 13, 2005 02:05pm |
| Category | Investigation |
| News Date | Oct 13, 2005 02:00pm |
| Description | Senate Majority Leader Bill Frist (R-Tenn.) has been subpoenaed to turn over personal records and documents as federal authorities step up a probe of his July sales of HCA Inc. stock, according to sources familiar with the investigation.
The Securities and Exchange Commission issued the subpoena within the past two weeks, after initial reports that Frist, the Senate's top Republican official, was under scrutiny by the agency and the Justice Department for possible violations of insider trading laws.
The formal request for documents usually presages an acceleration of a federal probe. In Frist's case, regulators had to proceed with caution due to his status in Congress and their mutual desire to avoid triggering constitutional objections to the release of documents.
Republican ethics lawyer Jan W. Baran also scored Frist for his handling of his trusts. "This shows Senator Frist's capacity for clumsiness and bad timing," Baran said. "He was trying to insulate himself from political charges and now finds himself trying to defend himself because of the transparency of his holdings." |
| Article | Read Article |
|
|
