St. Vincent's Execs Exaggerated Debts For Personal Profit

And now we know why they shut down. A group of former St. Vincent's employees filed a lawsuit today claiming the hospital lied about their debt because higher-ups were spending millions on themselves. The hospital allegedly spent $104 million on "other" costs, including a $278,000 golf trip. Attorney Thomas D. Shanahan told NY1, "The public deserves better than to hear a hospital was 'bankrupt' under a crushing $1 billion debt, when it seems they had substantial public monies coming in and that the hospital was mismanaged." St. Vincent's hospital closed in April, citing $1 billion in debt. About 3,500 people lost their jobs.

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By Jaya Saxena in News on August 16, 2010 4:27 PM

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thatsomeoneisme

I hope a criminal investigation persists until the right people get arrested for such egregious behavior. This mustn't be downplayed or swept under the rug. I hope the media keeps a watchful eye on this matter.

John L

Someone needs to go to jail for this!

I cannot believe that we, New Yorkers, allowed St. Vincent's to close without an uproar. It's inconceivable that this was viewed as "business as usual". I don't care how much money it lost, a hospital is not a business. It obviously needed a better management team but the community needed it! What will happen during another 9-11 type of attack? Where will the victims go? We should be looking at ways to expand healthcare in New York not close facilities such as this. I can't believe that for years New York has been trying to save OTB yet no one has tried to save St. Vincent's Hospital. I blame every elected official who has stood by and said nothing as this happened. As much as Bloomberg has fought for stadiums, pedestrian walkways, etc. and there wasn't any talk of trying to save St. Vincent's? There's no way that St. Vincent's was beyond saving, I don't buy it, not when we're going to spend 30 Million on another pedestrian walkway on Herald Square or spent close to 50 Million on Governor's Island.

Now a fully furnished medical institution, in the heart of Manhattan, will be torn down and become yet another co-op or condominium, as if Manhattan doesn't have enough already. How many people are they going to pack into this island? And where will they get their healthcare? And in an emergency where will they go?

Shame on all you politicians for allowing this to happen without at the very least putting up a fight!

There's definitely more to this story than meets the eye and Dr.Richard Daines, the state's Health Commissioner, and former Continuum Health Partners CEO, is at the center of it and it deserves an impartial investigation. http://www.nypost.com/p/news/local/manhattan/code_red_looms_for_st_vinny_r7y9UWrvyAyHAbV7WDiDbN

For more on why St. Vincent's closed see this http://www.youtube.com/watch?v=lhRArjeb3qM&feature=player_embedded#!

wow 14th street

No one seems to care about the fraud about this hospital's

bookeeping dept. ,should have been about the bagel at Starbuck's order,now that's important.

The Catholic church must be keeping this scandal quiet and

off the media,big time.

ANGRYGOD11

I can think of other, bigger things The Church would like the media to keep quite about that just a hospital in NYC. Raping children for decades could drive every last diocese into bankruptcy and send the leadership to prison.