If you have yet to shower, you may well need one after reading this.
Just in time for election season, another chapter in Ohio Bureau of Workers’ Comp scandal is heading for court. The latest news comes from the Toledo Blade, which reported last week that the BWC’s CFO is alleged to have accepted bribes from brokers for investment firms eager to invest the Bureau’s funds.
The bribes range from the mundane to the wierd – a couple hundred bucks to “buy something nice for the kids,” expensive dinners and the use of nice vacation homes. The total value of the bribes amounts to less than $10,000.
If the allegations are borne out, it will look like the $10,000 investment’s returns were, well, quite good. According to court documents, the investment firms received over $3 million in commissions on BWC business. That’s a 3200% rate of return, a result any investment firm would be proud to report.
As pathetic and sleazy and low-class as this is, the really disgusting part of this sordid chapter is the response of the investment firm to the allegations.
These scum are justifying their actions by touting the great results that the BWC enjoyed from their investments, as if the end justifies the means.
If you can’t get enough of this mess, read on.
Ohio WC does not pay claims to providers in a timely fashion. In all of the states we operate in Ohio has made a game out of paying it’s providers. They delay payments on a regular basis. This increases administrative costs to providers due to the additional follow-up. It works great for Ohio’s WC folks because they keep the dollars and benefit from the additional cash float. Is it a shock that they are involved in activities you reference in your blog?
To make up the for the bad investment, the special investment fraud unit is investiagating exsisting cases such as mine. I am a c-3 quad for 11 years and trying to claim fraud by me on a court ordered reimbursment for nursing and i have a letter from the BWC stating that they are to pay me as a nursing agency rate, still the fraud unit wants to hold me accountable for fraud. I turn in my true time that my nursing staff work and I get reimbused a set amount per day and if the accounting office cuts the check to me. I am just doing the paperwork the way the BWC set it up over 9 years ago and this past 3 months it is now fraud. Go figure?