A co-founder of Chicago-based Canopy Financial pleaded guilty of defrauding investors and clients of more than $93 million, according to prosecutors.This is Republican capitalism. This is the Republican Party's ideal of a perfect healthcare insurance industry. This is the economic policy of the Plutocrats and their dogs in the Republican Party which increasingly believe they own the American people.
Jeremy Blackburn, 37, of Bolingbrook, pleaded guilty to one count of wire fraud in U.S. District Court.Blackburn, a former president and chief operating officer of Canopy, admitted participating in a scheme to bilk investors out of $75 million and siphoning funds in excess of $18 million, from 1,600 customer accounts that were intended for medical expenses.
In September, Canopy’s chief technology officer, Anthony Banas, also pleaded guilty to wire fraud. He is due to be sentenced March 30.
Conservatives aren't the worst people on Earth but they sure enable the Republicans and chain themselves to Plutocracy. Conservatives have embraced the mantra of Government can't do anything right. They demand no government intrusion. And then when a unscrupulous person, like Jeremy Blackburn, or soulless Corporate board, like BP, motivated ony by the size of their golden parachutes commits massive fraud conservatives point and stammer "See government oversight is worthless!"
The BP Oil Gulf Disaster and Massey Energy Upper Big Branch Mine Explosion are just the most spectacular instances Republican malfeasance. The actions of Blackburn and Banas are indicative of conservatives' feelings, theft and greed are part of the Free Market and Government laws are just evil Socialism which hamper industrious Capitalists like themselves. Canopy's problem was their theft was too small. In order to receive Republican deference and protection they needed to steal Billions.