Foundation Watch

Soros-Related Firm Raided by FBI

That’s the title of a blog entry from The American Thinker, which reports on the Tampa-based Medicare/Medicaid provider WellCare whose stock plunged from $115 per share on Wednesday to $42 per share on Thursday. Today the shares are at $33.  The crazy leftwinger Ken Silverstein also smells an unfolding “mega-scandal.”

A 2005 proxy document shows that Soros was no longer involved with WellCare but that Soros Private Equity Investors, which at one time owned 80 percent of WellCare, had spun off its shares to a new group called Towerbrook Capital Partners.

Towerbrook’s chairman, Neal Mozkowski, was formerly head of Soros Private Equity. He is chairman of the board of WellCare.  Last week he sold 10,000 shares of WellCare for $112. Hmm.

Robert Huberty

Robert Huberty served as vice president of the Capital Research Center.
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