Source: The American Prospect
by Maureen Tkacik
“One company just forced the state of Illinois to fork over $1.3 million for a detention center it never built, and boasts an armored car subsidiary that ‘lost track of’ tens of millions of dollars in cash belonging to banks, businesses, and the Federal Reserve Bank of St. Louis. Another recently won a $70 million contract from the state of Oregon to remove dead trees to mitigate wildfire risk — then ordered contractors to indiscriminately chop down tens of thousands of healthy trees because it had fired the only professional arborist on its payroll. A third has been sued in Florida for allegedly orchestrating a sprawling insurance fraud ring that ended up screwing over hundreds of Hurricane Ida victims, stiffing the claim adjustors they hired, then suing its conspirator law firm for failing to make good on the 582 percent annualized return its partners had allegedly promised.” (07/17/25)
https://prospect.org/power/2025-07-17-meet-disaster-capitalists-alligator-alcatraz/