Bill McCollum for Governor: Fraud v. Fact: Rick Scott Invests in Company That Profits Off Illegal Immigrants

Jun 15 • 1376 Views • View Comments

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Tallahassee, FL – Today, McCollum for Governor Campaign Communications Director Kristy Campbell issued the following statement on the latest instance of Rick Scott’s fraud and hypocrisy.

“In just the latest case of hypocrisy, it was revealed today that Rick Scott has heavily invested in a company that is geared to helping illegal aliens transfer money to family and friends out of the country.

“While Rick Scott pours millions of his own dollars – money made from ripping off taxpayers – into public image repair commercials, it is becoming clearer every day that his rhetoric doesn’t match his record.

“Rick Scott says he wants to hold government accountable just like he did in business. Expect, under his watch, his company orchestrated the biggest Medicare fraud scheme in American history. He says he’s pro-life, but now we find out he profited from abortions and owns a pharmacy chain in California that sells the morning after pill.

“Rick Scott says he wants to crack down on illegal immigration, but now we find out he has been profiting from illegal immigrants. While it’s clear we can’t trust anything Rick Scott or his commercials say. One thing is certain. Rick Scott is a fraud whose public image repair team won’t be able to buy the support of Florida voters.”

“Did Rick Scott help finance remittances for illegals?”
Orlando Sentinel
By Aaron Deslatte
June 15, 2010

“TALLAHASSEE — GOP gubernatorial candidate Rick Scott was the first Florida political candidate to embrace a controversial Arizona immigration law that gives police the right to ask for immigration paperwork from anyone they have stopped or arrested.

“His quick embrace of the new law that was once shelled by other Republicans…was quickly followed by others looking to capitalize on an issue that polled well among conservative voters.

“But was Scott, a Naples millionaire who already faces questions over his role leading a hospital company later slapped with $1.7 billion in Medicare fines, investing in a company that capitalizes on illegal immigration?

“That is the latest bit of opposition research making the rounds in Tallahassee, documentation that shows Scott’s investment company was one of a handful of equity investors that lent $12.5 million in 2004 and 2005 to Emida Technologies.

“Emida provides electronic pre-paid services ranging from phone cards to money transfers, and focuses on Central and South American markets. According to its Web site, the company also partnered with another called IPP, which primarily focused on helping Hispanic migrant workers in Arizona transfer money and pay bills back in Mexico.

“Press releases from the company list Richard L. Scott Investments, LLC, as an equity partner.

“Scott’s campaign has not released his tax returns or other financial information. But the limited liability company he founded in 1997 has invested in ‘transaction processing, financial services, manufacturing, cable network, recreation/leisure, mobile home & RV, network security, catalog retail, medical equipment, pharmacy retail and health-care services,’ according to a 2005 press release, along with making ‘leveraged buyout, recapitalization/restructuring and growth capital investments in companies with superior management, predictable cash flow, strong market share and growth potential.’

“And remittances from mostly undocumented workers in the U.S. back to Mexico was certainly a growth industry until the economic collapse in 2007. Here’s a Washington Post story on that. There’s nothing illegal about the activity, but Scott is trumpeting his tough-on-immigration position. And it appears he also invested in a firm with a large footprint in the push to lower costs for migrant Hispanics without bank accounts to tranfer funds back to their families. Here’s an internal company Powerpoint laying out that goal, and it lists Scott as an investor. According to a Banco de Mexico study in 2005, 83 percent of the remittances into Mexico were from illegal immigrants, the vast majority coming from the U.S.

“A Scott spokeswoman said Emida’s primary business was providing phone cards and other prepaid services, and blamed the McCollum camp for making a ‘desperate assertion.’

“Emida describes the money transfer part of its business as a way ‘to create a borderless community connected by transactions via the ‘Cash and Transact’ mobile wallet. Cash and Transact is an ideal cash alternative for just about anyone, but especially for unbanked subscribers. There are no credit checks, and the system is much safer than carrying cash in many parts of the world.’”

CONTACT: Kristy Campbell


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