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Rick Scott's Misleading Financial Reporting Consistent With Shady Business Record

For Immediate Release: July 6, 2010
Rick Scott’s Misleading Financial Reporting Consistent With Shady Business Record
The St. Petersburg Times’ in-depth reporting on disgraced executive Rick Scott’s misleading filing of his financial statement shows that Floridians can’t trust Rick Scott to tell the full truth and come clean about his business dealings.  While Rick Scott laughably talks about “true transparency,” his misleading report shows just how much Scott has to hide.
Scott listed his net worth at $218 million, but according to the Times, he is worth at least $32 million more than he reported, and he repeatedly undervalued stock he owns in numerous companies. (St. Petersburg Times, 7/3/10)
“It’s disappointing that someone running to be Florida’s top elected official would so blatantly mislead Florida’s citizens, but this is a trait Rick Scott pioneered while he was in charge of Columbia/HCA,” said Eric Jotkoff, spokesperson for the Florida Democratic Party.  “This is just another sign to Floridians that Rick Scott does not have the honesty or integrity to serve as Florida’s next Governor.”
Scott has been criticized for investment in a company called XFone, which received stimulus funds earlier this year.  New information from the Times review “appeared to show Scott undervalued his XFone stock.”  The review also points out that “the Scott family controls 95 percent of the company he formed, XFNRLSI…That company, in turn, owns 18 percent of XFone.”  (St. Petersburg Times, 7/3/10)
“Considering he profited from the stimulus despite saying he opposed it, Rick Scott’s hypocrisy is further proof that his only principle is profit,” Jotkoff added.  “Floridians can’t afford a Governor who sells his values to the highest bidder and then tries to hide the evidence.”

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