We recently came across this article and thought our readers would like to know. It is all very convoluted, like Fox News say all the time, we report and you decide.
Gov. Scott’s undisclosed interest – via First Lady – in Zika mosquito control company
By Dan Christensen, FloridaBulldog.org
Gov. Rick Scott and First Lady Ann Scott
Florida Gov. Rick Scott has an undisclosed financial interest in a Zika mosquito control company in which his wife, Florida First Lady Ann Scott, owns a multi-million dollar stake through a private investment firm she co-owns.
The company is Mosquito Control Services LLC of Metairie, LA. According to its web site, MCS “is a fully-certified team of mosquito control experts – licensed throughout the Gulf Coast, including Louisiana, Georgia, Mississippi, Alabama and Florida.”
On June 23, Gov. Scott signed an executive order allocating $26.2 million in state emergency funds for Zika preparedness, including “mosquito surveillance and abatement, training for mosquito control technicians and enhanced laboratory capacity.”
It is not known whether MCS, whose services include monitoring and aerial spraying, stands to benefit from Florida government funds. Company manager Steven Pavlovich holds an active Florida “public health applicator” license with the Department of Agriculture and Consumer Services through April 2019, but MCS is not a registered state vendor. The Department of Health contracts with two other two mosquito control vendors.
MCS did not respond to two requests for comment.
Ann Scott’s large stake in MCS is via G. Scott Capital Partners, an investment firm that boasts $291 million of client assets. The firm manages several private equity funds and various “family accounts primarily comprised of trusts and family entities,” according to U.S. Securities and Exchange Commission records.
The Florida Bulldog reported in 2014 that Scott Capital, as it is known online, is operated by a trio of men who once worked at Richard L. Scott Investments, the private equity firm where Gov. Scott made millions for himself and his family putting together big-money investment deals when he was in the private sector.
Scott Capital posts its portfolio online. All nine listed companies are current and former investments of the governor and/or Mrs. Scott, including Mosquito Control Services, described as providing “mosquito abatement services primarily to municipalities.”
The SEC requires investment companies like G. Scott Capital Partners to file periodic disclosure reports. The firm’s most recent report, filed in March, shows that the three-employee, Connecticut-based firm caters to a handful of high net worth individuals – less than 25 – who invest directly and through various pooled investment funds.
A mosquito control investment
The firm’s latest fund is GS MCS, LLC, a Delaware company formed two years ago this month to recapitalize and take control of Mosquito Control Services. The current value of the fund is just under $10 million and the fund has nine beneficial owners, SEC records say. The owners’ names were not disclosed.
The managing director of G. Scott Capital Partners is Gregory D. Scott – no relation to Gov. Scott. He directs the firm’s investments, as he did when he led the private equity group at Richard L. Scott Investments from 2000 to 2012.
A screenshot from the web site of Mosquito Control Services LLC.
Gregory Scott owns 50 to 75 percent of the Delaware holding company that owns 100 percent of G. Scott Capital, according to the SEC. The First Lady owns the rest through the Frances Annette Scott Revocable Trust, which owns Tally 1, a Delaware company that in turn owns 25 to 50 percent of G. Scott Holdings LLC.
Gregory Scott has described Ann Scott, an interior decorator and owner of AS Interiors LLC, as a “passive investor” in G. Scott Capital.
Gov. Scott has not disclosed his ownership interest in his wife’s investments. Florida law, unlike federal law, does not require state public officers to disclose the assets or income of a spouse or minor child.
The governor’s office on Tuesday declined to discuss the matter or make Gov. Scott or the First Lady available for an interview.
The Republican governor, a multimillionaire, puts his personal investments in a “qualified blind trust” that his office has described as being overseen by “an independent financial professional.” Florida public officers who use such a trust to “blind” themselves to the nature of their holdings get in exchange immunity from prohibited conflicts of interest under a law that Gov. Scott signed in 2013.
FloridaBulldog.org has reported, however, that the person overseeing Gov. Scott’s trust is yet another former employee at Richard L. Scott Investments and that the trust has been ineffective in keeping the governor’s assets secret.
When Gov. Scott opened his current blind trust in 2014 – the second of his administration – he was required to disclose the assets he put into it. His current mix of assets is not known, but the Florida Bulldog reported last year that the blind trust has in the past coordinated stock transactions with the First Lady’s trust a family partnership.
The Solantic transfer
When Gov. Scott took office in 2011, he transferred tens of millions of dollars in assets to his wife, including a $62-million investment in the walk-in clinic chain Solantic. Mrs. Scott reportedly sold the family’s stake in Solantic that same year.
Gov. Scott’s transfer of his Solantic shares came amid an uproar about perceived conflicts of interest. Florida ethics laws generally prohibit public officials from having an ownership interest in companies that do business with the state or are subject to state regulation.
In 2013, Gov. Scott had an undisclosed ownership stake in Houston-based Spectra Energy when Florida’s Public Service Commission – five members appointed by Gov. Scott – unanimously approved construction of the controversial $3-billion Sabal Trail natural gas pipeline by a joint venture of Spectra and NextEra Energy, parent of Florida Power & Light.
The governor’s investment in Spectra became known about a year later when he filed a lengthy list of his assets as of Dec. 31, 2013 when he closed his original blind trust and opened a new one while qualifying to run for re-election.
FloridaBulldog.org reported in July 2014 that Gov. Scott’s list included a $53,000 stake in Spectra Energy and a $55,000 stake in DCP Midstream Partners, a natural-gas limited partnership 50 percent owned by Spectra Energy.
The governor’s investments included numerous other oil and gas assets, including a $712,000 stake in Texas-based Energy Transfer and its affiliates and subsidiaries. Through other subsidiaries, giant Energy Transfer owns a 50 percent interest in the Florida Gas Transmission pipeline, which delivers nearly 65 percent of the natural gas consumed in Florida.
Gov. Scott has had other conflicting investments.
FloridaBulldog.org reported in February that in 2012 Scott owned a $210,000 stake in the private equity firm that owned 21st Century Oncology when the all-Republican governing board of taxpayer-supported Broward Health awarded the company an unprecedented 25-year, no-bid contract to supply radiation oncology services. The governor appoints Broward Health’s board members.
A Scott spokeswoman has said the governor wasn’t aware that 21st Century had sought the Broward Health contract prior to its award in January 2012 and that no one at the private equity firm, Vestar Capital Partners, or 21st Century had asked him to try to influence the hospital district’s selection process.
Related posts:
- Florida’s First Lady invests quietly in investment firm that mirrors governor’s old company
- Pipeline company to judge: Evidence of Gov. Scott’s investment in us ‘irrelevant’
- Judge: Pipeline foes can’t raise Gov. Scott’s alleged conflict of interest
- Broward Health gave company with financial ties to Gov. Scott 25-year, no-bid contract
- Gov. Scott, his investments and the ‘temptation to dishonor’
Related posts:
- Florida’s First Lady invests quietly in investment firm that mirrors governor’s old company
- Pipeline company to judge: Evidence of Gov. Scott’s investment in us ‘irrelevant’
- Judge: Pipeline foes can’t raise Gov. Scott’s alleged conflict of interest
- Broward Health gave company with financial ties to Gov. Scott 25-year, no-bid contract
- Gov. Scott, his investments and the ‘temptation to dishonor’
Captain Gil Gutierrez
I certainly hope South Floridians learn a value lesson about not showing up at the polls. Unfortunately its going to be a few more years before we can vote for an environmentally responsible governor. As a charter fishing boat captain in South Florida I certainly see and feel the negative effects of this disaster.FRANK DADDARIO
.and if Scott arranges to get BIG SUGAR to sell Florida Crystals owned land for $4,ooo,ooo,ooo to the state Scott stands to get a “commission” of around $200,ooo,ooo which is why they got him elected in the first placeHCA was how Scott broadcast to the fraudsters and big money interests what a slick operator he was – capable of the biggest scams against MEDICAID and MEDICARE and now the people of FloridaGov Scott is another Scott Rothstein – only better at the END gameof course Scott isn’t dumb enough to have a conflict – Scott arranges to get contracts over in those other states WHILE Scott arranges a reciprocal transaction with pest control company owners to contract with FLORIDA – the olde you scratch MY back and i’ll scratch YOUR backnotice none of these business are HIS idea or are a product of HIS work – he just gets to “invest” while government funds are transacted so his risk is he has to lie and cheat and fail to provide honest representation to his electorate
