The Spectacular Fall of Universal Health Care Group in St. petersburg04/17/13 Robert Lorei
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Good morning, welcome to Radioactivity. Iâ€™m Rob Loreiâ€¦Coming upâ€”one of St. Petersburgâ€™s major employers â€“ Universal Health Care Group â€“ shut its doors last monthâ€”leaving workers and clients wondering what happened. After allâ€”the companyâ€™s high profile, politically connected CEO had assured the public nothing was wrong. Weâ€™ll look at the rise and fall of Universal Health Care in a moment. But first one listener comment about yesterdayâ€™s program on which we discussed the Presidentâ€™s backing of Chain CPI- a controversial way to determine cost of living increases for those on Social Security. Hereâ€™s what one listener had to say:
Late last month Universal Health Care Group in St. Petersburg closed its doors- after the FBI raided the company. Investigators are looking at alleged fraud, embezzlement and diversion of funds. The 1.5 billion dollar company once had 140,000 clients in 23 states.. Those customers would have to find another way to get their health insurance. Plus hundreds of employees were now out of work. The companyâ€™s founder Akshay Desai was well known in community and political circles- known for his lavish parties and financial support for politicians. How this spectacular collapse happened is the subject of an investigative report by two Tampa Bay Times reporters- Jeff Harrington and Susan Taylor Martin. Jeff Harrington joins us now.