Northern Trust Bank trustees purchased stock in Medicaid contractor Centene Corporation on behalf of Illinois Governor JB Pritzker, the BGA said.
SPRINGFIELD, Ill. -- A Better Government Association investigation claimed a blind trust connected to Governor JB Pritzker bought stock in one of the state's biggest Medicaid contractors.
The investment in Centene, which collected more than $2.6 billion from state Medicaid contracts in the first half of 2021, demonstrated the pitfalls of a blind-trust arrangement that still leaves the nation's richest governor open to potential conflicts of interest, according to the Better Government Association investigation.
The issue of stock purchases by elected officials has been debated in Congress, which is considering an array of strengthened stock disclosure laws aimed at stopping lawmakers from profiting from their access to insider information. "I don't see why a trustee couldn't operate within those bounds, especially given that he seems to have acknowledged the potential of a conflict with his pledge to divest of companies that hold state contracts," said Eleanor Eagan of the Center for Economic and Policy Research.
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