Issue 64: Millions of Lkwd Taxpayer Dollars Syphoned to CCF/Cosgrove Cayman Island For Profit Ins. Company

[Brian Essi]

The E & Y auditor’s report at Note 11 to the LHA 2015 financial statements (see attached): “Captive Insurance Company….The [Lakewood] Hospital’s professional and commercial general liability risks are insured by CCHS Indemnity Co. Ltd., a captive insurance company and a controlled affiliated entity of [the Cleveland Clinic] Foundation.”

Google “CCHS Indemnity Co. Ltd.” And you will find that it is located in the Cayman Islands.

http://www.info-clipper.com/en/company/ ... amie0.html

Fitzgerald and Summers, et al, with Butler's counsel have allowed millions of taxpayer dollars to go to the Cayman Island without accountability.

Butler advised Summers and City Council to approved sign the Master Agreement which which at Section 9.12 requires LHA to pay an additional premium of $2.5M to the secret Cayman Islands company.

$24 million per year in suspicious administrative charges have been paid from taxpayer dollars with no accountability.

Is any of this money is going to Fitzgerald, Summers and Butler?

Hmmm

Lakewood Hospital 2015.pdf

(225.06 KiB) Downloaded 133 times

[Lori Allen _]

If Summers & Co. & CCF were going to stash and hide money in the Cayman Islands, that was probably not the smartest country to put it in. The Cayman Islands are a British Territory and the U.S. has an extradition treaty with them. If they are brought up on federal charges, say money laundering, they can bet on being extradited to face trial.

Good plan, but wrong country.